BP Plans First Gulf Expansion Since Deepwater Spill

Law360, New York (February 7, 2012, 6:46 PM EST) -- BP PLC's chief executive told investors Tuesday that the company is moving ahead on a new deepwater drilling project in the Gulf of Mexico, its first expansion in the Gulf since the Deepwater Horizon spill nearly two years ago.

CEO Bob Dudley said the company and its minority partners on the project, Chevron Corp. and BHP Billiton PLC, will expand drilling operations at the Mad Dog field, where new oil reserves were discovered last year about 140 miles off the Louisiana coast.

“We have reached the...
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