BP and GDF Suez Confirm New Oil Discovery

Published at 12:36PM - 24/10/14

BP and GDF Suez have confirmed that they have located a new oil field in the UK Central North Sea. The exploration well is situated in block 30/1c, and it has been flow-tested to a maximum of 5,350 BoE daily.

Named as ‘Marconi’ by GDF Suez, and ‘Vorlich’ by BP, the new find is a landmark one according to Trevor Garlick, the regional president of BP’s North Sea operations.

He said that the company was nearing its fiftieth year of operations in the area and that the industry was working hard to maximise the full potential of economic hydrocarbon recoveries from the Central North Sea basin, finding new collaboration opportunities and growing exploration as a means of achieving the region’s full remaining potential.

BP operates this particular block, but GDF Suez operates the well using the Transocean Galaxy 2 rig. GDF Suez’s MD, Ruud Zoon, said that the discovery was encouraging, particularly for an area of the Central North Sea that required fresh hydrocarbon finds to expand development opportunities for various stranded projects. He added that the latest find was the third such successful exploration well for the company in 2014, which showed how GDF Suez is continuing to commit to the active exploration and evaluation drilling of the UKCS.

Matthew Hancock, the Business and Energy Minister, said that the government was ‘determined’ to put the right regulatory and fiscal regimes in place to ensure that maximum economic potential of oil and gas in the North Sea could be realised.