LONDON -- British oil giant BP (IW 1000/4) and European energy conglomerate GDF-Suez on Thursday announced a new oil discovery in the North Sea.
The discovery spans two blocks operated respectively by BP and GDF-Suez, and tests show it can produce a maximum of 5,350 barrels of oil equivalent per day, the pair said in a statement.
The find, named "Marconi" by GDF-Suez and "Vorlich" by BP, is located in the central North Sea.
"As BP marks its 50th year in the North Sea and as the industry looks to maximize economic recovery from the basin, increasing exploration activity and finding new ways to collaborate will be critical to realizing remaining potential," said Trevor Garlick, Regional President of BP North Sea.
Copyright Agence France-Presse, 2014