Wednesday 31 January 2018

BP announces two North Sea discoveries

BP has announced two new oil and gas discoveries in the North Sea, which could lead to a major expansion of its production.

They are Capercaillie in the Central North Sea and Achmelvich located in the west of Shetland.

The energy giant owns 100% of the former well while the latter well (52.6%) is in partnership with Shell (28%) and Chevron (19.4%).

Both wells were drilled in summer 2017 but the size of the resources were not disclosed.

Mark Thomas, BP North Sea Regional President said: “These are exciting times for BP in the North Sea as we lay the foundations of a refreshed and revitalised business that we expect to double production to 200,000 barrels a day by 2020 and keep producing beyond 2050.”

Yesterday, BP Ventures announced its investment in a US-based manufacturer mobile charging stations for electric vehicles.