BP CEO: Thunder Horse 2005 Start 'Unlikely'
The startup of oil production at BP PLC's (BP) Thunder Horse offshore platform in the U.S. Gulf of Mexico - affected by Hurricane Dennis - is "unlikely" to occur at the end of 2005, BP Chief Executive John Browne said Tuesday.
The world's largest semi-submersible platform, Thunder Horse tilted two weeks ago after the hurricane passed through the Gulf of Mexico. The U.K. oil major has since righted the structure.
The company said it couldn't say at this stage if there is damage to the platform or what caused it to tilt.
Thunder Horse is expected to be a significant contributor to North American output when it begins producing. The platform originally was supposed to hit first oil in late 2005.
Thunder Horse is designed to process up to about 250,000 barrels a day of oil and about 200 million cubic feet a day of gas.
BP is the operator and 75% shareholder of the platform, while ExxonMobil Corp. (XOM) owns the remaining 25%. Copyright (c) 2005 Dow Jones & Company, Inc.
- Gunvor CEO Sees Russian Refining Capacity Taking Hit from Drone Strikes
- These Factors Helped Brent Oil Price Break Above $85
- Sinopec Engineering Posts Higher Annual Petrochemicals Revenue
- Imperial Pipeline in Winnipeg Goes Offline for Three Months
- Gaz System to Acquire Gas Storage Poland
- Subsea7 Secures Contract to Service Woodside's Trion
- Adnoc Inks Supply Deal for Ruwais LNG Project with Germany's SEFE
- EIA Boosts USA Crude Oil Production Forecasts
- Norway Regulator Blasts Proposal to Halt New Oil and Gas Permits
- Chinese Mega Company Makes Major Oilfield Discovery
- EIA Drops 2024 Henry Hub Gas Price Forecast
- EIA and Standard Chartered Offer Up Latest Oil Price Predictions
- Red Sea Region Sees Another Watershed Incident
- Chevron Oil Project in Kazakhstan to Cost $48.5B
- OPEC Voices Encouragement after IEA Affirms Support for Oil Security
- Biden Govt Bares Strategy for Freight Charging, Hydrogen Fueling Infra
- Rystad Looks at the Buzz Around White Hydrogen
- Ukraine Hits Third Russian Refinery In Escalating Drone Strikes
- VIDEO: Missile Attack Kills Crew Transiting Gulf of Aden
- Norway Regulator Blasts Proposal to Halt New Oil and Gas Permits
- Chinese Mega Company Makes Major Oilfield Discovery
- What Is the Biggest Risk to Offshore Oil and Gas Personnel in 2024?
- Is Peak Oil Demand Close?
- Vessel Sinks in Red Sea After Missile Strike
- JP Morgan, Standard Chartered Reveal Latest Oil Price Forecasts
- Exxon Rights in Stabroek Do Not Apply to Hess Merger with Chevron: Hess
- Rystad Forecasts Net Production of Top Permian Producers in 2024
- Analysts Reveal Latest Oil Price Outlook Following OPEC+ Cut Extension