British oil explorer BP and France’s GDF SUEZ struck oil in the North Sea, they announced today.
The new discovery called ‘Marconi by GDF SUEZ and ‘Vorlich’ by BP was flow tested at a maximum rate of 5,350 barrels of oil equivalent per day.
It could be a bridge to tapping other oil and gas reserves.
Ruud Zoon, Managing Director of GDF SUEZ E&P UK said: “This is an encouraging exploration discovery in a part of the Central North Sea that needs additional volumes of hydrocarbons to open up development options for several stranded discoveries.”
Trevor Garlick, Regional President of BP North Sea added: “As the industry looks to maximise economic recovery from the basin, increasing exploration activity and finding new ways to collaborate will be critical to realising remaining potential. This discovery is a great example of both.”
Government said it is “determined” to set the right tax and regulation to “get the maximum possible economic extraction of oil and gas” from the North Sea.
Business and Energy Minister Matthew Hancock said: “This discovery shows exactly what can be achieved in the North Sea if companies work together to maximise the considerable potential of remaining oil and gas reserves.”