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BP Ramps Up Oil & Gas Focus With the North Sea Murlach Field Startup
ZACKS· 2025-10-10 13:46
Core Insights - BP plc has successfully brought its Murlach field online in the UK North Sea, marking its sixth major upstream project of the year and contributing to its goal of launching 10 major oil and gas projects by the end of 2027 [1][8] Production and Goals - The six projects that came online in 2025 are projected to add a combined net production of 150,000 barrels of oil equivalent per day (boe/d) at peak, aiding BP in its aim to increase net production by an additional 250,000 boe/d by 2027 [2] - The Murlach project is expected to peak at nearly 15,000 boe/d, supporting the Eastern Trough Area Project (ETAP), which has been operational for 27 years [2][3] Project Details - The Murlach project involves the redevelopment of an older field, with BP acquiring the license after the previous operator relinquished it. The redevelopment includes drilling two new wells and adding subsea equipment to connect to the main production system [3] - BP will also repurpose existing systems and modify the ETAP central processing facility to efficiently bring the Murlach field back into production [3] Strategic Focus - BP has shifted its focus back to traditional fossil fuels, scaling back on renewables, and is committed to increasing production to meet rising global energy demand while enhancing shareholder returns [4] - In addition to the Murlach project, BP plans to bring several other projects online in Egypt, Trinidad and Tobago, and West Africa by 2025, reflecting its renewed emphasis on oil and gas [4]