BP has announced two new oil and gas discoveries in the North Sea.
The oil major said data from the wells drilled at the Capercaillie field in the central North Sea and the Achmelvich field west of Shetland, was currently under evaluation.
“These are exciting times for BP in the North Sea as we lay the foundations of a refreshed and revitalised business," said Mark Thomas, BP North Sea regional president.
He said BP expects to double production to 200,000 barrels a day by 2020 and keep producing in the ageing field beyond 2050.
The Scottish National Party (SNP) hailed the news as a major boost for jobs in the sector and proof the industry is "alive and kicking" following a prolonged period of low oil prices which hit companies' capital expenditure plans. However, the SNP also warned a hard Brexit could cost the industry £500m a year.
Oil & Gas UK chief executive Deirdre Michie said the discovery marked a positive start to the year for UK offshore oil.
“Our competitive fiscal terms, and the strides we have made to bring our finding costs in line with our peers, make the UK Continental Shelf a very attractive basin for doing business," Michie said.
BP owns 100 per cent of Capercaillie and 52.6 per cent of Achmelvich, with Shell and Chevron holding the rest at 28 per cent and 19.4 per cent, respectively.