BP news

BP currently holds a 27.5% non-operated interest in the Shearwater condensate and gas field, operated by Shell, in the UK Central North Sea.

The new company would be supported by Eni and BP and would be expected to be self-funded.

A paper published by LYTT advocates new, acoustic data-based methodologies to improve the diagnosis of well integrity issues and inform successful remediation and plug and abandonment strategies.

BP has reported a profit of US$2.6 billion in 1Q21.

The approximately US$9 billion West Nile Delta development includes five gas fields across the North Alexandria and West Mediterranean Deepwater offshore concession blocks in the Mediterranean Sea.

The Satellite Cluster field will produce gas from four reservoirs utilising a total of five wells and is expected to reach gas production of up to 6 million m3/d.

Once online at BP's US$9 billion Mad Dog 2 project, Argos, a semi-submersible, floating production platform, will be the company’s fifth operated platform in the Gulf of Mexico.

The agreement with BP will allow Petrobras to hold a 100% interest in the six blocks.

Bernard Looney, CEO, said the reaching of the target was the result of "earlier than anticipated delivery of disposal proceeds combined with very strong business performance during the first quarter."

Two of the projects will take place in the deepwater Gulf of Mexico, and one will be carried out offshore Trinidad & Tobago.