GDF Suez and British counterpart BP said Thursday they made a significant new oil discovery in the central waters of the 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,” Trevor Garlick, BP’s regional president, said in a statement. “This discovery is a great example of both.” The discovery, which straddles two license areas operated separately by the companies, tested at an initial flow rate of 5,350 barrels of oil equivalent per day. Garlick said the discovery shows how more oil can come from North Sea basins if regional players join forces to capitalize on what he said was a considerable […]