Gulf of Mexico set to gather momentum

Buoyed by stronger oil prices and demand recovery, the region has plenty of projects on the roster

Offshore exploration in the US Gulf of Mexico is building up a head of steam—with BP’s mid-April Puma West oil discovery in the basin just the latest example. Several companies have outlined material drilling campaigns across 2021, while output poised to rise sharply over the next two years. The EIA estimates that at least 200,000bl/d of new production will come online in the Gulf of Mexico by 2023. This would lift production in the basin to 1.75mn bl/d, only 150,000bl/d shy of its all-time record. Most of these barrels will come from several large-scale projects. BP’s Mad Dog 2 venture is scheduled to start up this year, producing up to 140,000bl/d through the Argos platform. Thunder H

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