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BP announces sixth major upstream start-up of 2025
Yahoo Financeยท 2025-10-10 09:15
Core Insights - BP has commenced production at the Murlach field in the UK North Sea, marking its sixth major upstream oil and gas project to start in 2025, contributing approximately 150,000 barrels of oil equivalent per day (boepd) to its production goals [1][2] Group 1: Production and Goals - The six new projects are expected to deliver a combined peak net production of around 150,000 boepd, supporting BP's target of an additional 250,000 boepd by the end of 2027 [1][2] - Murlach specifically contributes about 15,000 boepd to the Eastern Trough Area Project (ETAP), which has been operational for 27 years [2] Group 2: Project Development - The Murlach project received necessary regulatory and government approvals in 2023 for the redevelopment of a field that has been operational since the early 2000s, following the surrender of the field license by the previous operator [3] - The redevelopment involved drilling two new wells, installing subsea equipment, reusing existing equipment, and making modifications to the ETAP central processing facility [3] Group 3: Strategic Focus - BP's strategy in the North Sea emphasizes identifying competitive development opportunities using existing infrastructure to manage established oil and gas hubs effectively [4] - The successful start-up of Murlach is seen as a testament to the skills and dedication of BP's team and its partners [4]