BP projects 20 percent production increase
BP Exploration (Alaska) Inc. executives told financial and oil analysts meeting in Anchorage today that the company expects to boost oil output from its North Slope fields by 100,000 barrels a day over the next few years — more than a 20 percent increase.
BP currently produces approximately 460,000 barrels of North Slope oil a day. The company hopes to push production to more than 500,000 barrels a day by early next century and to sustain it at more than 500,000 barrels for the foreseeable future.
The increase would be fueled by four new fields scheduled to begin production by 2001 — Badami. Northstar, Liberty and Tarn — as well as ongoing drilling, enhanced oil recovery and satellite development projects in existing fields.
BP, ARCO and partners announce exploration success in Prudhoe Bay satellite area
Satellite accumulation discovered at Endicott
BP Exploration (Alaska) Inc. has discovered a new satellite oil accumulation near the Endicott field, about 10 miles northeast of Prudhoe Bay, the company said in a statement today..
The “Eider” field, owned 100 percent by BP, is estimated to contain eight million barrels of recoverable oil. It currently is producing about 3,000 barrels of oil a day under a long-term test arrangement. BP, operator of Endicott, expects it to continue full-time production following the test.
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