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BP makes significant oil discovery at deepwater prospect in Gulf of Mexico

LONDON--Britain's BP PLC said on Wednesday it had made a significant oil discovery at its Gila prospect in the deepwater U.S. Gulf of Mexico.

“The Gila discovery is a further sign that momentum is returning to BP's drilling operations and well execution in the Gulf of Mexico,” said Richard Morrison, Regional President of BP's Gulf of Mexico business.

BP, which co-owns the Gila prospect with ConocoPhillips, said appraisal drilling would now be required to determine the size and potential commerciality of the discovery.

BP said it was the third significant discovery it had made in the Paleogene play in the Gulf of Mexico in recent years, following Kaskida in 2006 and Tiber in 2009.

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