BP intends to increase oil and gas production in the long term

British oil company BP expects to increase oil production in their traditional and deepwater fields, as well as the growth of gas production in the long term, it should be from a company press release.

 

"We expect growth from our traditional and deepwater assets, as well as an increase in the contribution of gas. We also have a high-quality pipes, capable of supporting underlying growth after 2020" - presented in a release to the general director of the business upstream (exploration and production of hydrocarbons) Lamar McKay (Lamar McKay).

 

From now to 2020, the business will focus on upstream oil. BP expects to launch new projects, which may increase daily production by more than 900,000 barrels of oil equivalent.

 

"Although the current situation remains difficult, BP is well positioned to manage the business upstream in the long term," - said McKay.

 

In October, BP said it may cut investments by 1-2 billion dollars in 2015. In March, the company predicted the amount of capital at the level of 24-26 billion dollars.

 

Over the next five quarters, including the current one, the company expects to spend about $ 1 billion on the optimization of activities in the areas upstream and downstream, and corporate governance.

 

 

 

December 11, 2014

"Oil of Russia"