Mad Dog investment decision 'imminent'News // November 8, 2016
BP says an full investment decision (FID) for the Mad Dog project is 'imminent.'
Nor-Ocean Offshore said that, in a third quarter conference call, BP said it sees the FID of Mad Dog Phase 2 as imminent - it had been expected that the FID would be taken early in 2017.
Interestingly, as Nor-Ocean highlighted, BP said the total cost of the project is now “well below the US$10 billion mark," which compares with US$22 billion estimated in 2013.
Contracts for subsea work associated with the project are expected shortly after the FID.