BP discovers North Sea oil and gas

LONDON: British energy major BP on Wednesday announced oil and gas discoveries in the North Sea, in a boost for the company and local industry.
The discoveries were made in Capercaillie in the central North Sea, and in Achmelvich, west of Shetland, the company said in a statement.
BP fully owns the Capercaillie well, while the Achmelvich well is a partnership between operator BP (52.6 percent), Royal Dutch Shell (28 percent) and US peer Chevron (19.4 percent).
The Capercaillie well was drilled to 3,750 meters (12,303 feet) and found oil and gas. The Achmelvich well was drilled to 2,395 meters (7,857 feet) and located oil.
“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,” said Mark Thomas, BP North Sea regional president.
“We are hopeful that Capercaillie and Achmelvich may lead to further additions to our North Sea business.”
The announcement comes amid a tough environment for Britain’s offshore oil and gas industry, with lobby group Oil & Gas UK claiming that sector employment fell further in 2017 on deep cost-cutting amid Brexit uncertainties and despite rising crude prices.