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Released September 30, 2025 | SUGAR LAND
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Written by Daniel Graeber for Industrial Info Resources (Sugar Land,
Texas)--Boasting a potential production capacity of 80,000 barrels per day (BBL/d) of oil, British energy major BP (London) said Monday it sanctioned the Tiber prospect in southern U.S. waters.
BP said it reached a final investment decision on its Tiber-Guadalupe project in the Gulf of Mexico. Coming online by 2030, it marks the second new production center for BP in U.S. waters in less than two years.
Two fields--Tiber and Guadalupe--are estimated to hold around 350 million barrels of oil equivalent from the first phase of operations. Utilizing a floating production platform, BP is expecting net production of around 80,000 BBL/d. Six wells are anticipated for the Tiber field, with two in Guadalupe.
According to IIR Energy, the oil produced offshore will be loaded onto tankers and shipped to shore for further distribution.
Subscribers to Industrial Info's Global Market Intelligence (GMI) Production Project Database can click here to learn more about the project.
The U.S. offshore sector is stable, and relatively low-carbon compared with onshore shale oil production. The U.S. Energy Information Administration (EIA), part of the Department of Energy, estimates total offshore production will average 1.84 million BBL/d this year and climb to 1.9 million BBL/d by next year.
That compares with an expected 2% decline in total production from the shale basins in the Lower 48 states to 10.96 million BBL/d by next year.
BP last month added barrels to the equation with the startup of the Southwest Extension of its Argos platform, located in the Mad Dog Field. The extension is expected to add 20,000 barrels of oil equivalent per day (BOE/D) of gross peak annualized average production to the platform, whose gross production capacity is listed as up to 140,000 BBL/d.
Mad Dog is believed to contain the largest ultimate technically recoverable resources of any reservoir in U.S. federal waters.
Subscribers can learn more about Mad Dog from a detailed project report.
The International Energy Agency (IEA) in its regular monthly report for September reported that global oil supply set a record last month at 106.9 million BBL/d. Suppliers outside the Organization of Petroleum Exporting Countries are expected to account for about 65% of that growth this year, though that falls to around 50% by next year.
Much of the anticipated growth comes from the U.S., where Gulf oil producers may be insulated from some of the pressure for onshore projects. Bottlenecks, however, may be expected for oil and gas pipelines as tariff pressures from U.S. President Donald Trump's curb the availability of tubular steel products necessary for pipelines, while the industry in general is in a sour mood over his erratic trade policies.
The Federal Reserve Bank of Dallas found in its latest quarterly energy survey that nearly 80% of the respondents said they've delayed investment decisions because of uncertainty about the price of oil, and whether those prices support additional drilling.
"Uncertainty, both domestically and offshore, have made it difficult to plan," one respondent said.
Second-quarter profits slipped for BP by about 14% from year-ago levels to $2.4 billion. Despite gains from Argus, the company said it expected reported upstream production to be lower than last year.
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking over 200,000 current and future projects worth $17.8 Trillion (USD).
BP said it reached a final investment decision on its Tiber-Guadalupe project in the Gulf of Mexico. Coming online by 2030, it marks the second new production center for BP in U.S. waters in less than two years.
Two fields--Tiber and Guadalupe--are estimated to hold around 350 million barrels of oil equivalent from the first phase of operations. Utilizing a floating production platform, BP is expecting net production of around 80,000 BBL/d. Six wells are anticipated for the Tiber field, with two in Guadalupe.
According to IIR Energy, the oil produced offshore will be loaded onto tankers and shipped to shore for further distribution.
Subscribers to Industrial Info's Global Market Intelligence (GMI) Production Project Database can click here to learn more about the project.
The U.S. offshore sector is stable, and relatively low-carbon compared with onshore shale oil production. The U.S. Energy Information Administration (EIA), part of the Department of Energy, estimates total offshore production will average 1.84 million BBL/d this year and climb to 1.9 million BBL/d by next year.
That compares with an expected 2% decline in total production from the shale basins in the Lower 48 states to 10.96 million BBL/d by next year.
BP last month added barrels to the equation with the startup of the Southwest Extension of its Argos platform, located in the Mad Dog Field. The extension is expected to add 20,000 barrels of oil equivalent per day (BOE/D) of gross peak annualized average production to the platform, whose gross production capacity is listed as up to 140,000 BBL/d.
Mad Dog is believed to contain the largest ultimate technically recoverable resources of any reservoir in U.S. federal waters.
Subscribers can learn more about Mad Dog from a detailed project report.
The International Energy Agency (IEA) in its regular monthly report for September reported that global oil supply set a record last month at 106.9 million BBL/d. Suppliers outside the Organization of Petroleum Exporting Countries are expected to account for about 65% of that growth this year, though that falls to around 50% by next year.
Much of the anticipated growth comes from the U.S., where Gulf oil producers may be insulated from some of the pressure for onshore projects. Bottlenecks, however, may be expected for oil and gas pipelines as tariff pressures from U.S. President Donald Trump's curb the availability of tubular steel products necessary for pipelines, while the industry in general is in a sour mood over his erratic trade policies.
The Federal Reserve Bank of Dallas found in its latest quarterly energy survey that nearly 80% of the respondents said they've delayed investment decisions because of uncertainty about the price of oil, and whether those prices support additional drilling.
"Uncertainty, both domestically and offshore, have made it difficult to plan," one respondent said.
Second-quarter profits slipped for BP by about 14% from year-ago levels to $2.4 billion. Despite gains from Argus, the company said it expected reported upstream production to be lower than last year.
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking over 200,000 current and future projects worth $17.8 Trillion (USD).
