Enbridge Will Build, Own, And Operate Crude Oil And Natural Gas Pipelines In US Gulf Of Mexico For Kaskida Development, Operated By Bp Exploration & Production Company, Detailed Design And Procurement Activities Will Start In Early 2025 And Be Operational By 2029, With Cost Of ~$700M
Portfolio Pulse from Benzinga Newsdesk
Enbridge will construct, own, and operate crude oil and natural gas pipelines in the US Gulf of Mexico for the Kaskida development, operated by BP Exploration & Production. The project will start design and procurement in 2025 and be operational by 2029, costing approximately $700 million.
October 03, 2024 | 11:29 am
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BP Exploration & Production will have Enbridge build and operate pipelines for its Kaskida development in the Gulf of Mexico, enhancing BP's production capabilities by 2029.
The partnership with Enbridge allows BP to focus on its core exploration and production activities while leveraging Enbridge's expertise in pipeline operations, potentially increasing efficiency and output.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Enbridge will build and operate pipelines for BP's Kaskida development in the Gulf of Mexico, with operations starting in 2029. This $700M project could enhance Enbridge's infrastructure portfolio.
The project represents a significant investment and expansion of Enbridge's operations in the Gulf of Mexico, potentially increasing future revenue streams and strengthening its market position.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 90