BP Makes “Giant” Oil Find in Gulf of Mexico
Just when we finally got some momentum going on the “Green” movement throughout the world, they find more oil :( Hopefully the “Green” movement will continue strong, but in the meantime it looks like gas prices might drop :)
“Oil major BP Plc said it has made an oil discovery in the Gulf of Mexico, which analysts believe could contain over 1 billion barrels of recoverable reserves, reaffirming the Gulf’s strategic importance to the industry.
BP said in a statement on Wednesday that it had made the “giant” find at its Tiber Prospect in the Keathley Canyon block 102, by drilling one of the deepest wells ever sunk by the industry.
Further appraisal will be required to ascertain the size of volumes of oil present, but a spokesman said the find should be bigger than its Kaskida discovery which has over 3 billion barrels of oil in place.”