bp has received US Department of the Interior approval to proceed with the $5 billion Kaskida development in the deepwater US Gulf of Mexico, allowing the company to move ahead with one of its key Paleogene projects after a year-long review of the field development plan.
The first stage will use a semisubmersible floating production platform with a nameplate capacity of 80,000 BOPD from six wells. First oil is expected in 2029, and the initial phase is estimated to recover about 275 million barrels of oil equivalent.
Kaskida is in the Keathley Canyon area, about 250 miles southwest of New Orleans. The field is part of the wider Paleogene play, where bp sees broader potential across nearby discoveries, including Tiber. The company believes the area could ultimately unlock as much as 10 billion barrels of discovered resources in place.
The field was discovered in 2006, but development depended on progress in high-pressure drilling technology suited to Paleogene reservoirs. Kaskida will require well equipment rated for pressures of up to 20,000 pounds per square inch, marking a further step in deepwater drilling capability.
For the project, bp plans to use a simplified, standardized platform design that can be repeated on future Gulf developments. The company said this approach is intended to lower construction costs, improve safety and shorten development schedules in the region.
Gordon Birrell, Executive Vice President of Production and Operations at bp, said the industry-led design solution would make Kaskida easier to build and operate, while supporting safer operations and stronger project value.
