BP discovers oil off US Gulf coast in Far South field

BP plans more exploration in the ocean basin. It has approved the development of the Kaskida oilfield, which lies in a complex geological structure called the Paleogene, and plans to go ahead with a second Paleogene development, Tiber, later this year, CEO Murray Auchincloss told a conference last month.

(Reporting by Sheila Dang in Houston, additional reporting by Arunima Kumar in Bengaluru; Editing by Leslie Adler and Barbara Lewis)