**Oil giant BP has said it has made a “giant” new oil discovery in its fields in the Gulf of Mexico.**BP is currently the largest producer of oil and gas in that area, with net production equivalent to more than 400,000 barrels of oil a day.
The company said it drilled the well, dubbed Tiber, to a total depth of about 35,055ft (10,685m), making it one of the deepest wells ever drilled.
BP shares rose 2.5% to £5.32 a share, the biggest gainer in the FTSE 100.
The oil firm will now undertake appraisals to determine the well’s size and commercial potential.
Its last discovery in the Gulf of Mexico, called Thunder Horse, is now considered one of its best future prospects.
BP said the discovery would “support the continuing growth of our deepwater Gulf of Mexico business into the second half of the next decade”.