BP Wins OK for First New Gulf Project Since Deepwater Horizon Tragedy, Worst Oil Spill in US History

Article content(Bloomberg) — The Trump administration approved BP Plc’s plan to pump billions of dollars worth of crude from what will be the company’s first virgin field development in the Gulf of Mexico since the deadly 2010 Deepwater Horizon disaster that triggered the worst oil spill in US history.Sign In or Create an AccountEmail AddressContinueor View more offersArticle contentBP’s deepwater Kaskida project is scheduled to start crude production in 2029. In its initial phase, the development is expected to produce the equivalent of about 275 million barrels from a section of the seafloor estimated to hold as much as 10 billion barrels.Article contentWe apologize, but this video has failed to load.Try refreshing your browser, ortap here to see other videos from our team.Article contentArticle contentThe Department of Interior’s approval of Kaskida comes despite objections from environmental groups and Democratic lawmakers, who warn another Deepwater Horizon-like catastrophe could threaten Gulf Coast communities and ecosystems while encouraging more ultra-deep water drilling.Article contentTop StoriesGet the latest headlines, breaking news and columns.There was an error, please provide a valid email address.Sign UpBy signing up you consent to receive the above newsletter from Postmedia Network Inc.Thanks for signing up!A welcome email is on its way. If you don't see it, please check your junk folder.The next issue of Top Stories will soon be in your inbox.We encountered an issue signing you up. Please try againInterested in more newsletters? Browse here.Article contentBP has said “the safety of our people and the environment will remain our highest priority.” Article contentBP’s return to large-scale Gulf of Mexico development has been gradual since the April 2010 eruption of the Macondo well that killed 11 workers and destroyed Transocean Ltd.’s Deepwater Horizon floating rig.Article contentAlthough the British oil major was cleared to resume bidding on federal offshore drilling leases in early 2014, Kaskida represents BP’s first full-blown new field development project development in the region in almost 16 years. Article content“Kaskida is a world-class project that reflects decades of technological innovation by BP and the offshore oil and gas industry,” a company spokesperson wrote in an email. Article content“This $5 billion investment will safely bring online more American energy by helping to unlock 10 billion barrels of discovered BP resources in the Gulf of America’s Paleogene fields.”Article contentArticle contentThe Kaskida find has remained largely undeveloped since its discovery almost 20 years ago because the oil industry lacked technology capable of managing the field’s high pressure and forbidding geology.Article contentThe Deepwater Horizon, which still rests at the bottom of the Gulf, was under lease by BP at the time of the Macondo disaster.Article contentEnvironmental groups vowed to fight the approval. Article content“It’s deeply disturbing that the Bureau of Ocean Energy Management approved a proposal littered with legal and regulatory flaws, especially given BP’s history in the Gulf,” said Brettny Hardy, senior attorney for Earthjustice. “It’s also an insult to the millions of people and businesses in the Gulf whose lives were changed for the worse by Deepwater Horizon.”Article content—With assistance from Mitchell Ferman and Bill Haubert.Article content(Updates with comment from environmental group in last paragraph.)Article contentTrending Bank of Canada more likely to cut than hike after 'brutal' jobs report, say economists Economy Garry Marr: The pros and cons of doling out inheritance with a warm hand Family Finance This TSX stock has 30% upside on the company's $11 billion project backlog, analyst says Investor Canadians’ average wealth hit $1.07 million, but what’s driving net worth depends on your age, province and bracket Wealth Posthaste: Oil supply shock could force the Bank of Canada's hand yet News Share this article in your social networkCommentsYou must be logged in to join the discussion or read more comments.Create an AccountSign in Join the Conversation Postmedia is committed to maintaining a lively but civil forum for discussion. Please keep comments relevant and respectful. Comments may take up to an hour to appear on the site. You will receive an email if there is a reply to your comment, an update to a thread you follow or if a user you follow comments. Visit our Community Guidelines for more information. Bank of Canada more likely to cut than hike after 'brutal' jobs report, say economists Economy Garry Marr: The pros and cons of doling out inheritance with a warm hand Family Finance This TSX stock has 30% upside on the company's $11 billion project backlog, analyst says Investor Canadians’ average wealth hit $1.07 million, but what’s driving net worth depends on your age, province and bracket Wealth Posthaste: Oil supply shock could force the Bank of Canada's hand yet News