BP is set to spud a wildcat on a multi-billion-barrel prospect off eastern Canada in 2022, with initial studies scoping out a potential project in iceberg-prone waters that could support four floating production, storage and offloading vessels powered from shore.
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The Ephesus prospect lies in about 1250 metres of water in exploration licence 1145 in the West Orphan basin and has been firmly in the drilling sights of BP and its partners Hess and Noble Energy (since acquired by Chevron) since they bid US$214.5
