BP announces 'giant' oil discovery in Gulf of MexicoBritish energy British Energy plc (LSE: BGY) is the UK's largest electricity generator by volume and a constituent company of FTSE 100. It is primarily an operator of formerly state-owned nuclear power stations. giant BP said on Wednesday Wednesday: see week. it had made a "giant" oil discovery in the Gulf of Mexico Noun 1. Gulf of Mexico - an arm of the Atlantic to the south of the United States and to the east of Mexico Golfo de Mexico Atlantic, Atlantic Ocean - the 2nd largest ocean; separates North and South America on the west from Europe and Africa on the east after drilling one of the industry's deepest-ever wells. "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. BP's discovery comes as the industry this week marks one hundred and fifty years since crude was first drilled and days after Scottish group Cairn Energy Cairn Energy plc (LSE: CNE) is an independent oil exploration and production company. Its headquarters are in Edinburgh, Scotland and it is listed on the London Stock Exchange. The company was founded by Bill Gammell, who remains its CEO. began pumping out oil in India as exploration in the North Sea dwindles. "Appraisal will be required to determine the size and commerciality of the discovery," BP said of its latest find. BP operates Tiber, owing to owing to prep. Because of; on account of: I couldn't attend, owing to illness. owing to prep → debido a, por causa de its 62-percent stake in the well. Its co-owners are Brazilian oil giant Petrobras, with a 20-percent interest and US group ConocoPhillips with 18 percent. "Tiber represents BP's second material discovery in the emerging Lower Tertiary tertiary (tûr`shēârē), in the Roman Catholic Church, member of a third order. The third orders are chiefly supplements of the friars—Franciscans (the most numerous), Dominicans, and Carmelites. play in the Gulf of Mexico, following our earlier Kaskida discovery," said Andy Inglis, BP chief executive for Exploration and Production. "These material discoveries together with our industry leading acreage position support the continuing growth of our deepwater Gulf of Mexico business into the second half of the next decade." BP is the biggest producer of oil and gas in the Gulf of Mexico with net production of more than 400,000 barrels of oil equivalent per day, the company said in its statement. 
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