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Joo Rip Gwa Rhhee
Joined: 25 May 2003
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 Posted: Thu Sep 03, 2009 5:03 am Post subject: BP touts 'giant' discovery in Gulf of Mexico |
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BP touts 'giant' discovery in Gulf of Mexico
by Eduard Gismatullin/Bloomberg News
Thursday September 03, 2009, 8:30 AM
BP, Europe's second-largest oil company, reported a "giant" discovery at the Tiber Prospect in the U.S. Gulf of Mexico that may contain more than 3 billion barrels, after drilling the world's deepest exploration well.
The well is located about 250 miles southeast of Houston, the London-based company said yesterday in a statement. It was drilled to approximately 35,055 feet, or 6.6 miles, greater than the height of Mount Everest.
The latest discovery will help BP, already the biggest producer in the Gulf of Mexico, boost output in the region by 50 percent to 600,000 barrels of oil equivalent a day after 2020.
It's equal to about a year's output from Saudi Arabia, the biggest exporter in the Organization of Petroleum Exporting Countries, as well as coming close to matching the U.K.'s entire proven reserves.
"It will take a while to develop, the second half of next decade, but it's very important," Jonathan Rigby, an analyst at UBS in London, said in a telephone interview. |
http://www.nj.com/business/index.ssf/2009/09/bp_touts_giant_discovery_in_gu.html |
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Kuros
Joined: 27 Apr 2004
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| Posted: Thu Sep 03, 2009 5:16 am Post subject: |
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Holy shit. I never thought I'd say this, but . . . drill . . .
No, I think I'll stop there.
Huh, but 250 miles is well offshore. |
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Julius
Joined: 27 Jul 2006
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| Posted: Thu Sep 03, 2009 5:18 am Post subject: |
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| just enough to melt that final glacier. Full steam ahead. |
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RufusW
Joined: 14 Jun 2008
Location: Busan
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| Posted: Thu Sep 03, 2009 3:47 pm Post subject: Re: BP touts 'giant' discovery in Gulf of Mexico |
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| It's equal to about a year's output from Saudi Arabia |
So not actually a lot in the long term then. You guys realise oil is a finite resource right? |
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ED209
Joined: 17 Oct 2006
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| Posted: Thu Sep 03, 2009 6:50 pm Post subject: |
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| How many Mexican terrorists did Scotland have to release for this?! |
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