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flag BP gets U.S. approval to develop $5B Kaskida oil project in Gulf of Mexico, starting production in 2029.

flag BP has received U.S. Department of the Interior approval to develop the $5 billion Kaskida deepwater oil project in the Gulf of Mexico, its first major new field since the 2010 Deepwater Horizon disaster. flag The project, set to begin production in 2029, aims to extract up to 10 billion barrels of oil from Paleogene fields, leveraging new technology to overcome past challenges from high pressure and complex geology. flag The decision follows a year-long review and marks a key step in BP’s return to large-scale Gulf development, despite opposition from environmental groups and lawmakers over safety and environmental risks.

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