Oil producer BP makes 2 exploration discoveries in North Sea

BP says it has constructed two new petroleum discoveries in the North Sea, adding to hopes for a revival in the declining basin that has fueled Britain’s oil and gas industry since the 1970 s.

The company said Wednesday that it procured oil at the Capercaillie well east of Aberdeen and Achmelvich west of the Shetland Islands. BP is the sole owned of Capercaillie and owns 52.6 percent of Achmelvich, with Shell and Chevron holding smaller stakes.

BP didn’t calculate how much petroleum the wells contain, saying the determines are still being evaluated.

Mark Thomas, BP’s regional chairman, says the company aims for “a freshened and revitalized business” in the North Sea “that we expect to double production to 200,000 barrels per day by 2020 and keep rendering beyond 2050. “

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