BP has announced it has found two new exploration discoveries in the North Sea, with Capercaillie and Achmelvich.

Capercaillie discovery lies in Block 29/4e in the Central North Sea, and Achmelvich is in Block 206/9b west of Shetland.

BP holds 100% stake in Capercaillie. It is also the operator of Achmelvich well with 52.6% stake, while Shell and Chevron hold 28% and 19.4% interests respectively.

The exploration wells at the new discoveries were drilled by the Paul B Loyd Junior rig in mid-2017.

The well at Capercaillie was drilled to a total depth of 3,750m and found light oil and gas-condensate in Paleocene and Cretaceous-age reservoirs.

Data is currently under evaluation and options are expected to be considered for a possible tie-back development to existing infrastructure. The well at Achmelvich was drilled to a total depth of 2,395m and found oil in Mesozoic-age reservoirs.

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By GlobalData
“We expect to double production to 200,000 barrels a day by 2020 and keep producing beyond 2050.”

Currently, the company is evaluating the well results to assess future options.

BP North Sea regional president Mark Thomas 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.

“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.”

Oil & Gas UK says two new exploration discoveries in the North Sea mark a positive start to the year for the UK’s offshore industry.

Oil & Gas UK chief executive Deirdre Michie said: “BP’s exciting discovery marks a more positive start to 2018 for UK exploration. 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.

“While industry continues to build on its efficiency programme, Oil & Gas UK will continue to work closely with stakeholders to ensure no stone is left unturned in our efforts to maximise economic recovery from the basin.”