BP’s North Sea operations saw a rise in production in the second quarter, bucking a fall across the wider group, the oil major revealed yesterday.
Production on its UK and Norwegian assets was just over 200,000 barrels of oil equivalent (boe) per day, ahead of internal forecasts, a spokesman for the firm said.
The firm’s west-of-Shetland Schiehallion floating production vessel installation performed particularly well, with its highest level of production in a quarter for three years, at 40,000boe gross per day, he said.
The increase followed a period of investment in the vessel, which is due to be taken off the field early next programme in the area, called Quad 204.
This will see a new floating production vessel brought to the Schiehallion and Loyal fields in 2015 with production due on stream in 2016.
Its Foinaven asset, another floating production unit, operated by vessel owner Teekay Petrojarl, was also a good performer, producing 30,000boe per day gross, the spokesman said.
He added: “Production during the second quarter was slightly ahead of expectations.
“We continued with our strategy to focus the portfolio, announcing the sale of the southern gas business to Perenco in a deal we expect to close later in 2012 and the sale of stakes in two non-operated fields (Alba and Britannia).”
BP is still hoping to sell other non-operated assets, including a 27.7% stake in Braes and 27.5% holding in Shearwater.
Its spokesman added: “Our North Sea capital investment programme this year is approaching £2billion as we continue to build the long-term future of the business.”
The increase in production follows an 18% drop in overall UK North Sea production last year, mirrored by BP and blamed largely on increased maintenance and turnaround activity.
Production had been falling by an average of 6% in the basin.