The explorer has so far encountered 400 ft of reservoir pay zone in an area where it has three other producing fields. The picture of the future is becoming clearer, and there are fewer oil wells in it. The state-run offshore company has found a gas and condensate field that holds an estimated 250 million BOE. BP announced four discoveries in the Gulf of Mexico near existing platforms. It use advanced seismic imaging to identify resources in deepwater locations that can be developed cost effectively using platforms nearby.