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BP's Tiber-Guadalupe project to produce 80,000 boed by

2030

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US will account for just under half of BP output by 2030

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TotalEnergies buys US onshore gas asset stake from

Continental

By Sheila Dang, Stephanie Kelly and America Hernandez

HOUSTON/LONDON, Sept 29 (Reuters) - European oil and gas

majors BP and TotalEnergies on Monday deepened

their commitments to the United States, with BP approving a $5

billion offshore oil field and TotalEnergies buying into an

onshore gas field.

Higher investment in U.S. oil and gas production aligns with

U.S. President Donald Trump's goal to capitalise on the

country's hydrocarbon resources.

BP, which currently produces around 2.3 million barrels of

oil equivalent per day, is becoming increasingly reliant on the

United States to shore up its oil and gas business following a

strategic revamp announced in February to shift spending from

renewables to hydrocarbons.

INCREASING US EXPOSURE

BP has vowed to increase its U.S. production to just over 1

million boed by the end of the decade, or just under half of its

global target of 2.3 million to 2.5 million boed in that

timeframe.

Its $5 billion Tiber-Guadalupe project in the Gulf of

Mexico, expected to begin production in 2030, will include a

floating 80,000 boed platform to tap into an estimated 350

million boe in recoverable resources, BP said.

BP is considering selling minority stakes in Tiber as well

as another fully BP-owned Gulf of Mexico project, Kaskida,

sources have told Reuters.

French rival TotalEnergies said on Monday it would buy a 49%

stake in Continental Resources' onshore gas fields in the U.S.

state of Oklahoma, for an undisclosed sum.

The assets will net it around 150 million standard cubic

feet per day of gas by 2030, or about 26,000 boed, helping to

secure access to low-cost upstream gas as the company signs

deals to deliver the fuel via ship to mostly Asian clients.

TotalEnergies is the largest buyer of U.S. liquefied natural

gas, purchasing 10 million metric tons per year, but its own

output in the United States is much smaller.

Its U.S. upstream assets last year produced 93,000 boed, or

about 3.8% of Total's global production, far behind its assets

in Africa, Europe, the Middle East, Asia and Latin America.

This is set to change as Total seeks to balance its U.S. LNG

purchases with increasing its own gas production in the country.