As the US energy market shows signs of growth, several energy companies have announced their future upstream development targets. BP is one of them, recently extending its US Gulf of Mexico upstream growth plan from 2026 to 2030.
According to BP's latest plan, the company aims to enhance its operational presence and efficiency in the Gulf of Mexico. Through new project development and upgrades to existing facilities, the Gulf of Mexico region has become a key area for US energy expansion.
BP is advancing multiple projects by applying advanced technologies at its offshore facilities, improving operational efficiency and positioning itself at the forefront of the US energy industry's expansion. BP stated in a declaration: "We plan to increase US production to approximately 1 million barrels of oil equivalent per day (boe/d) by 2030, a nearly 30% increase from 2024. The Gulf of Mexico is crucial to this plan, and BP is working to boost the region's capacity to over 400,000 boe/d by 2030, while focusing on safety."
To support the Gulf of Mexico growth plan, BP has initiated several expansion projects, including the Argos and Atlantis platforms. BP noted that two new platforms, Kaskida and Tiber-Guadalupe, will also come online by 2030. The Tiber-Guadalupe project, approved late last year, will utilize the latest technologies developed by BP over the past decade to improve operational efficiency in the Gulf of Mexico.
BP emphasized in its statement: "BP's expansion projects and deployment of advanced technology in the Gulf of Mexico demonstrate our commitment to safety and operational excellence. Through the initiatives already launched, maximizing existing infrastructure, applying innovative solutions, and increasing production, we are modernizing offshore facilities to support the US's future energy needs." Since the 2010 Deepwater Horizon oil spill, BP has been committed to rebuilding its reputation and market trust. Market analysis indicates that the global upstream market is expected to grow in the coming years, and BP plans to play a key role in US energy expansion by 2026, potentially continuing through 2030.
