BP has made two new oil and gas discoveries in the U.K. North Sea, the company said Jan. 31, giving new impetus to its plans to boost production in the aging basin into the middle of the century.
The new discoveries are also the latest bright spot for the North Sea after a number of large new fields started up in recent years, helping to reverse a long and gradual decline in output since the late 1990s.
“These are exciting times for BP in the North Sea as we lay the foundations of a refreshed and revitalized business that we expect to double production to 200,000 barrels a day [bbl/d] by 2020 and keep producing beyond 2050,” said Mark Thomas, BP North Sea regional president.
London-based BP said it had made one discovery in Block 29/4e in the central North Sea, named Capercaillie, and another in Block 206/9b west of Shetland, branded Achmelvich. Both wells were drilled by the Paul B Loyd Junior rig in summer 2017. The size of the resource was not disclosed.