BP make two new North Sea discoveries

BP expects to double production in the North Sea by 2020 as the energy giant announces two new oil and gas discoveries in the area.

The finds have been made in the central North Sea and west of Shetland.

BP hope to double production in the North Sea over the next two years.

Regional president Mark Thomas says: "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."

Oil & Gas UK Chief Executive Deirdre Michie said: "We are hopeful that Capercaillie and Achmelvich may lead to further additions to our North Sea business."

“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.”