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A giant oil reserve discovered in the Gulf of Mexico September 3, 2009

Posted by mytruthaboutoil in Oil (general), Oil giants.
Tags: ,


That’s really hot news in the oil business. BP has just discovered a giont oil reserve field in the Gulf of Mexico.

According to the information available so far, we can’t tell precisely the quantity of oil found, but the term “giant” has been used by the Dutsch company, which is usually cautious.

Though, the oil we’ll not be available soon an should not hurt oil price in the short term (maybe BP shares???). We’re indeed talking about deep sea reserve and production won’t start before 2012 according to BP.

The field, named Tiber, is located 250 miles southeast of Houston.  Tiber would be the deepest drill in oil production history.



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