The six projects — two for oil and four for natural gas — will add the equivalent of 150,000 barrels a day at peak production, BP said Thursday in a statement announcing the startup. Murlach, a field redevelopment that reuses existing infrastructure, will contribute 15,000 of those barrels.
Chairman Albert Manifold told staff on his first day on the job this month that the company needs to move faster to execute the turnaround outlined by Chief Executive Officer Murray Auchincloss. The strategic pivot announced earlier this year includes increasing annual oil and gas investment by 20% to about $10 billion a year, following years favoring low-carbon ventures.
“The strategy reset that we’ve announced — these projects are entirely consistent with that,” BP Senior Vice President of Projects Ewan Drummond said in an interview, adding the projects are coming online “ahead of schedule and on or better than budget.”
The company’s 2025 startups — which also include projects in Egypt, the US Gulf Coast, Trinidad and Tobago and West Africa — add to BP’s target of an additional 250,000 barrels a day of oil equivalent by the end of 2027, with a total global output goal of 2.3 million to 2.5 million by the end of the decade.
By comparison, Exxon Mobil Corp. expects to produce 5.4 million barrels a day of oil equivalent by 2030. TotalEnergies SE currently produces roughly 2.5 million barrels a day and targets 3% annual hydrocarbon production growth by 2030.
Chevron produces 3.2 million and aims to grow production at an annual rate of about 6% through 2026. It will publish longer-term production targets that include the recent acquisition of Hess Corp. later this year.
(Bloomberg, October 9, 2025)