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BP says drilling at Tiber prospect in Gulf of Mexico

Reuters - UK Focus

HOUSTON, Sept 12 (Reuters) - BP Plc (LSE: BP.L - news) has begun appraisal drilling in its highly touted Tiber prospect in the Gulf of Mexico, the company said on Thursday.

BP confirmed that drilling began on Aug. 3 after ConocoPhillips Chief Executive Ryan Lance disclosed it to analysts during a webcast presentation at the Barclays Energy-Power Conference in New York. ConocoPhillips (NYSE: COP - news) is a minority partner in Tiber.

In 2009 BP called its Tiber discovery "giant." The company had intended in 2010 to drill appraisal wells to better gauge how much oil was there, but BP's Macondo oil spill prompted the Obama Administration to suspend all drilling for six months. (Reporting By Kristen Hays; Editing by Terr Wade)