British Petroleum (BP) made new oil and gas discoveries in the North Sea at two separate wells, the company announced on Wednesday.
The British energy major expects to double oil production in the North Sea to 200,000 barrels a day by 2020, after the new discoveries, according to the company’s statement.
The discoveries were made at the Capercaillie well east of Aberdeen in the central North Sea and at the Achmelvich well west of the Shetland Islands.
Testing is ongoing to determine the volume of the wells.
The Capercaillie well was drilled to a total depth of 3,750 meters and encountered light oil and gas-condensate in Paleocene and Cretaceous-age reservoirs, while the Achmelvich well was drilled to a total depth of 2,395 meters and encountered oil in Mesozoic-age reservoirs, the statement read.
“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,” the company’s North Sea Regional President, Mark Thomas was quoted as saying.
BP is the sole owner of Capercaillie well. It also operates the Achmelvich well owing 52.6 percent, with Shell and Chevron, have a 28 percent and 19.4 percent stake, respectively.
By Firdevs Yuksel