BP is moving at speed on a pair of major new deep-water oil projects in the US Gulf of Mexico as part of a strategy to establish a new production hub tapping into significant discovered oil resources.

The UK supermajor already has a large business in the US Gulf and its ambition is to nearly double oil and gas production to 400,000 barrels of oil equivalent per day by mid-decade, and average 350,000 boepd through to the end of this decade.