BP launches production from two more major projects

Oil major BP has started production from another two of the seven major upstream projects it had lined up for 2017.

Juniper in Trinidad and Persephone in Australia are now producing, meaning five of the projects are now up and running.

The Quad 204 redevelopment west of Shetland, the West Nile Delta development in Egypt and the Trinidad onshore compression project came on stream earlier this year.

Further developments in Egypt and Oman are expected to follow later this year.

Juniper is BP’s first subsea field development in Trinidad.

It is expected to boost BP’s gas production in Trinidad by about 590million standard cubic feet a day.

The development produces gas from the Corallita and Lantana fields via the new Juniper platform, 80 kilometres off the south-east coast of Trinidad.

Woodside-Energy-operated Persephone comprises two subsea wells tied back to the North Rankin complex, located about 140km north-west of Karratha, Western Australia.

It is expected to produce around 48million scf per day of gas net for BP.

BP holds a 16.67% interest in Persephone.

BP chief executive Bob Dudley said: “This is a significant year for BP and, with five of our seven planned major projects now onstream, delivery of our plan is firmly on track.

“This year’s projects will deliver a key part of the 800,000 barrels equivalent a day production from new projects that we expect by the end of the decade.

“Importantly, these new projects, with their lower development costs and higher margins, also further improve BP’s resilience to the price environment.”

 

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