bp’s Tiber-Guadalupe Project Achieves Final Investment Decision in Gulf of America

With a positive final investment decision, bp recently approved the Tiber-Guadalupe project in the Gulf of America. The new oil and gas production hub features a floating production platform with the capacity to produce 80,000 barrels of crude oil per day, including six wells in the Tiber field and a two-well tieback from the Guadalupe field. The 100% bp-owned hub will begin production in 2030.

“Our decision to move forward on the Tiber-Guadalupe project is a testament to our commitment to continue investing in the Gulf of America and expand our energy production from one of the premier basins in the world,” said Andy Krieger, bp’s Senior Vice President, Gulf of America and Canada. “Along with its sister project Kaskida, Tiber-Guadalupe will play a critical role in bp’s focus on delivering secure and reliable energy the world needs today and tomorrow.”

The Tiber and Guadalupe fields may contain approximately 350 million barrels of oil equivalent and recoverable resources during the initial phase, with additional wells drilled in future phases following evaluation. bp will deploy existing platform and subsea equipment designs to improve cost efficiencies for the hub’s construction, commissioning, and operations. Tiber project development costs are expected to be around $3 per barrel lower than the Kaskida project, including synergies from using over 85% of the Kaskida project design.

Rendering of Kaskida floating production platform | Image Credit: Exmar

“Tiber-Guadalupe represents a significant step forward in our efforts to unlock the potential of the Paleogene in the Gulf of America, building on our decades of experience in the region,” said Gordon Birrell, bp’s Executive Vice President of Production and Operations. “Together with our Kaskida project in the Paleogene, we expect Tiber-Guadalupe will be another world-class development.”

The approximately $5 billion Tiber-Guadalupe project is bp’s seventh operated oil and gas production hub in the Gulf of America, joining Kaskida and other platforms in boosting capacity to over 400,000 barrels of oil equivalent per day by 2030. It’s also one of the 8 – 10 major projects slated to begin operations between 2028 and 2030, with bp planning to invest approximately $10 billion to deliver its Gulf of America Paleogene projects. The company will increase its offshore and onshore production in the United States to over 1 million barrels of oil equivalent per day by 2030.

Projects in Azerbaijan

In June 2025, bp announced that the company and its partners have entered a series of agreements to build and expand on major oil and gas interests in Azerbaijan:

• Shah Deniz Compression Project: bp (with a 29.999% participating interest) and partners have approved the next phase of development of the $2.9 billion Shah Deniz gas field. The Compression project is designed to access and produce low-pressure gas resources from the gas field, increasing resource recovery and extending production life. A new unmanned compression platform will be installed and is expected to produce an additional gross 50 billion cubic meters of gas and 25 million barrels of condensate. First gas is anticipated in 2029.
• Exploration access and progress: bp has completed an agreement with SOCAR to access two blocks in the Caspian Sea for exploration and development, for the discovered Karabagh oil field and the Ashrafi-Dan Ulduzu-Aypara area. bp will hold a 35% working interest and become the operator of each block, with SOCAR retaining 65%.