British energy major BP has been on an approving spree over the past couple of years, bringing a wave of new upstream developments to fruition. The icon of the conventional energy sector has built up a substantial portfolio that spans the entire globe. Through its over 100-year history, BP has been developing some of the largest energy assets in the industry, and now, the company has revealed its plans for this year and beyond. The company recently outlined its expansion plans for 2026 and beyond, marking a new year with significant development opportunities.
BP had a great 2025 overall, bringing several new projects online
Towards the end of last year, it became clear that BP was on a roll, commissioning six new projects, including the Murlach Field in the UK North Sea. The Murlach Field project adds approximately 150,000 barrels of oil equivalent per day (boed), combined peak net production. Murlach contributes to BP’s overall strategy to add 250,000 boed combined peak net production by the end of next year.
The company’s leadership has praised the progress made during 2025 and expects this year to be even better. Despite the calls by the international community to increase investments in the renewable energy sector, the traditional oil and gas market has remained the cornerstone of the world’s energy supply. BP is one of the companies in the market that has big plans to continue to advance conventional upstream developments into the new year and beyond.
“Murlach is the sixth start-up for bp in 2025 and marks another important milestone in our plan to deliver 10 major upstream oil and gas projects by the end of 2027. These projects reflect bp’s strength in safely increasing production to supply energy to meet global demand, while maintaining a relentless focus on shareholder returns. They also highlight our focus on efficient delivery, with four starting up ahead of schedule.” – Ewan Drummond, bp’s senior vice president of projects
A new year brings with it a wave of new possibilities for British Petroleum
With 2025 fading into our collective memory, BP has plans to boost its upstream assets through a wave of new developments this year and into next year. While developing new projects takes an inordinate amount of time, BP has the necessary expertise and know-how to bring the projects into reality over the next year or two.
The first project worth mentioning is the Atlantis Drill Center 1 Expansion, which calls for two new subsea wells to be drilled, as well as the expansion of the major facility to process the resources in Atlantis in the Gulf of Mexico. BP is partnering with BHP Billiton and Woodside Energy to expand the operations at the Atlantis facility, with an expected startup in 2027.
Another development that BP is planning for the future is the Coconut project in Trinidad. The Caribbean is a region that has attracted a wave of energy companies in recent years. BP’s energy portfolio has become one of the most diverse across the energy industry, with the company greenlighting major developments in the Gulf of Mexico.
2026 is set to see several new developments across the industry for BP
The company’s already impressive energy assets with be getting a major boost through the next few years. BP has developed a framework to advance the company’s projects across the world, but the US Gulf of Mexico has vast opportunities, not just for BP, but for a litany of energy companies all aiming to benefit from the new gas and oil directive undertaken by US President Donald Trump. The Gulf of Mexico will see a surge in new energy developments in the coming years, and BP is aiming to lead the charge.
