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flag BP approved a $5 billion Gulf of America project to produce 80,000 barrels of oil daily by 2030.

flag BP has approved the $5 billion Tiber-Guadalupe project in the Gulf of America, a new deepwater development set to begin production in 2030 with a capacity of 80,000 barrels of oil per day. flag The project, located about 300 miles southwest of New Orleans, includes six wells in the Tiber field and a two-well tieback from Guadalupe, leveraging a standardized design from the Kaskida project to cut costs. flag It supports BP’s goal to increase U.S. production to over 1 million barrels of oil equivalent per day by 2030, with a focus on the Gulf region. flag The development is part of BP’s strategic shift toward expanding fossil fuel operations, marking its second major Gulf platform in under two years.

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