BP Unlocks New Oil Reserves with Atlantis Expansion

BP has initiated production on its major Atlantis Facility Expansion project in the US Gulf of Mexico. The project leverages existing infrastructure to unlock additional oil and gas reserves, extending the life of the field.

The Atlantis field, discovered in 1998, is one of BP's largest deepwater assets with estimated ultimate reserves around 600 million barrels. First production began in 2007, making it a nearly two-decade-old operation.

BP operates the facility with a 56% working interest, while Woodside Energy holds the remaining 44%. The expansion added two new subsea water injection wells and installed new subsea trees and water injection pumps on the platform's topsides.

The project was delivered ahead of schedule and under budget, adding approximately 10,000 barrels of oil equivalent per day (boe/d) of gross peak annualized average production. This contributes to BP's goal of growing US Gulf of Mexico production capacity above 400,000 boe/d by 2030.

BP's Andy Krieger stated, 'Atlantis has been one of the anchors of our Gulf business for nearly two decades, and this expansion proves there is still more value to be generated.'