BP Announces New North Sea Discoveries
BP plc announced Wednesday that it has made new discoveries in the North Sea at Capercaillie, in Block 29/4e, and Achmelvich, in Block 206/9b.
The Capercaillie well was drilled to a total depth of 12,303 feet and encountered light oil and gas-condensate in Paleocene and Cretaceous-age reservoirs, while Achmelvich was drilled to a total depth of 7,857 feet and hit oil in Mesozoic-age reservoirs.
“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 by 2020 and keep producing beyond 2050,” Mark Thomas, BP North Sea regional president, said in a company statement.
“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 onstream in 2017, Clair Ridge, due to come into production this year, and the non-operated Culzean field, expected to start-up in 2019,” he added.
Oil & Gas UK’s chief executive, Deirdre Michie, said the new exploration discoveries in the North Sea marked a more positive start to the year for the UK’s offshore industry.
“Our competitive fiscal terms, and the strides we have made to bring our finding costs in line with our peers, make the UK Continental Shelf a very attractive basin for doing business,” Michie said in a statement sent to Rigzone.
“While industry continues to build on its efficiency program, Oil & Gas UK will continue to work closely with stakeholders to ensure no stone is left unturned in our efforts to maximize economic recovery from the basin,” Michie added.
Capercaillie, which is 100 percent owned by BP, is located in the central North Sea and Achmelvich is situated west of Shetland. The Achmelvich well partnership comprises BP (operator, 52.6 percent), Shell (28 percent) and Chevron (19.4 percent).
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