BP and GDF Suez said Thursday that they have discovered a new oil field in the UK North Sea.
The discovery was flow tested at a maximum rate of 5,350 barrels of oil equivalent per day.
The field, referred to as Marconi by GDF SUEZ and Vorlich by BP, is located in the central North Sea and spans the GDF SUEZ operated block 30/1f and the BP operated block 30/1c.
The well was drilled by GDF SUEZ E&P UK as operator with the Transocean Galaxy II jack up rig under a joint well agreement between the two licence groups.
France-based GDF Suez said the discovery is an “encouraging” sign that could prove additional hydrocarbon volumes in the area and spur development of several stranded discoveries.
The discovery is GDF Suez’s third of the year.
BP and its co-venturers are undertaking a $16 billion investment program in the North Sea. The company plans to spend about $11 billion during the next five years as part of its North Sea plan.
“This discovery shows exactly what can be achieved in the North Sea if companies work together to maximize the considerable potential of remaining oil and gas reserves,” UK business and energy minister Matthew Hancock said