bp intends to invest up to £18 billion ($22.5 billion) in the UK’s energy system by the end of 2030, helping the country to deliver on its ambitions to boost energy security and reach net zero, bp said on Tuesday.
The company intends to continue investing in North Sea oil and gas, while driving down operational emissions.
In the North Sea, bp plans on investing in exploration around its existing North Sea hubs and developing lower emission oil and gas projects to support near term security of supply.
In addition to oil and gas investments, ‘bp is also in action on a range of lower carbon energy investments in the UK,’ the company said.
bp, in partnership with German energy company EnBW, is developing two 60-year offshore wind leases in the Irish Sea with a combined potential generating capacity of 3 gigawatts (GW) and has a lease option with a potential generating capacity of 2.9 GW off the east coast of Scotland.
The company is investing in infrastructure, ports, harbors and shipyards, including the construction of four ships to support the offshore wind projects across the UK.
Additionally, bp is planning to invest £1 billion ($1.25 billion) in electric vehicle charging in the UK over the next 10 years, ‘approximately tripling the number of bp’s UK charging points by 2030 and deploying more rapid and ultra-fast chargers in key locations.
bp focused on creating two large-scale hydrogen production facilities in the UK, together aiming to produce 1.5 GW of hydrogen by 2030.
Source: Anadolu Agency