BP to invest $1B in Atlantis expansion

BP will invest $1.3B on an expansion of its Atlantis platform in the deep waters of the Gulf of Mexico about 150 miles south of New Orleans, the oil company announced in a media release Jan. 8. BP owns 56 percent of Atlantis, which is located in 7,000-plus feet of water and is its operator. BHP, another major international oil firm, owns 44 percent. BP said BHP was expected to make its own final investment decision for the project early this year. The firm will use similar advanced seismic imaging methods that were successful in adding as much as 1B barrels of oil to the expected lifetime production from its Thunder Horse platform oilfield. (Source: NOLA.com 01/08/19)