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LONDON — British energy major BP has made a "giant" oil discovery in the Gulf of Mexico after drilling one of the industry's deepest-ever wells, it said Wednesday.
"BP announced today a giant oil discovery at its Tiber Prospect (well) in the deepwater Gulf of Mexico," the company said in a statement.
"The Tiber well was drilled to a total depth of approximately 35,055 feet (10,685 metres) making it one of the deepest wells ever drilled by the oil and gas industry," it added.
Sept. 11 (Bloomberg) -- Repsol YPF SA, Spain’s biggest oil company, discovered a Venezuelan gas field containing as much as 8 trillion cubic feet of fuel, one of the world’s largest finds.
The field’s potential gas resources would be enough to supply Spain for more than five years, the company said today in an e-mailed statement. Venezuelan President Hugo Chavez and Repsol Chief Executive Officer Antonio Brufau discussed the find in Madrid today, the company said.
Repsol wants to boost oil and gas production through new finds off the coasts of Brazil and Venezuela after four years of declining output. The company is also a partner in Brazil’s Guara oil field, which may contain 2 billion barrels of oil.