BP (NYSE: BP) has selected Argos as the name of the new floating production unit for the $9 billion Mad Dog 2 project in the deepwater U.S. Gulf of Mexico (GoM).
The name is a reference to Odysseus’ loyal dog from “The Odyssey” and a nod to the Mad Dog spar, an existing production facility operated by BP about six nautical miles away from the Argos site, BP said Nov. 27 in a news release.
The platform, which will be the first for BP in the GoM since 2008, is capable of producing up to 140,000 gross barrels of crude oil per day through a subsea production system from up to 14 production wells and eight water injection wells, BP said in the release.
The hull and topsides of the Argos platform are currently under construction in South Korea.
“Selecting Argos as the name of our newest platform is an important milestone for the Mad Dog 2 project, which remains on track and on budget,” said Starlee Sykes, BP’s regional president for the Gulf of Mexico and Canada. “This project is key to delivering high-margin production from one of the largest fields in the Gulf of Mexico, and it will strengthen our position in the basin for years to come.”
Oil production from the facility is scheduled to start in late 2021.
Williams’ “poison pill” was found by a Delaware judge to be a disproportionate response to the threat that an activist investor might swoop in when the stock was at a low point during the start of the pandemic.
The NYSE said CNOOC has the right to appeal the delisting decision. The exchange will include any appeal it receives in its application to the U.S. Securities and Exchange Commission.
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