BP announces North Sea discoveries

BP has made two new discoveries in the North Sea, the super-major said on Wednesday.

The Capercaillie exploration well in licence 29/4e, owned entirely by BP, struck light oil and gas condensate, the company statement added. The Achmelvich well in licence 206/9b, operated by BP (52.6%) and co-owned with Shell (28%) and Chevron (19.4%), encountered oil.

“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,” said Mark Thomas, BP’s president for the North Sea region.

“We are hopeful that Capercaillie and Achmelvich may lead to further additions to our North Sea business, sitting alongside major developments like Quad 204, which came on stream in 2017, Clair Ridge, due to come into production this year, and the non-operated Culzean field, expected to start up in 2019.”