British Petroleum announced it has found a giant pool seven miles down at its Tiber play. Previously, it also hit a giant in its Kaskida play in the same region of the Gulf of Mexico, about 400 kilometers offshore from Houston.
The discovery is located in 1259 meters of water, for a total depth of 10685 meters.
BP stock rose more than $2.00 a share. Each discovery is guesstimated at about 3 billion barrels.
At this time BP is producing 400,000 bbls/day from other, shallower, wells in the Gulf.
Exxon, Chevron, Shell and others have important exploration programs in the area.

With the recent re-evaluation of Canada's reserves to close to those of Saudi Arabia, North American reserves look sufficiently large for many years to come. Petrochina has bought into one Athabaska oilsands operation for $2 billion US dollars. The move has been welcomed by the provincial government. Another Chinese company has a large interest in another area.

Petrobras (Brazil) is making important discoveries in their offshore, presalt region. More 'giants' are expected there.