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NSRI

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BP exploration discoveries mark positive start for North Sea in 2018

BP exploration discoveries mark positive start for North Sea in 2018

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31 January 2018

Oil & Gas UK says two new exploration discoveries in the North Sea by a supermajor mark a more positive start to the year for the UKs offshore industry.

BP today (Wednesday 31 January) announced successful discoveries in its Capercaillie and Achmelvich wells. The data of both wells is now under evaluation.

Oil & Gas UK Chief Executive Deirdre Michie said: "BPs 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.