HOUSTON, Nov. 21 (UPI) -- ConocoPhillips said its net production from the Jasmine field in the British waters of the North Sea will reach 40,000 barrels of oil equivalent next year.
Conoco announced first gas production from the Jasmine field started early this week.
"Jasmine is one of several major growth projects that will contribute to ConocoPhillips' 3- to 5 percent production growth rate through 2017," Matt Fox, a vice president in charge of exploration and production, said in a statement Wednesday.
Conoco serves as the operator of the field with a 36.5 percent stake in the project, alongside venture partners Eni and BG Group.
Discovered in 2006, it's one of the largest fields of its kind in British waters. Conoco said the field has the capacity to produce 140,000 boe per day. BG Group gets 30,000 boe per day from Jasmine.
"BG Group's involvement in both of these exploration and production successes, demonstrates both our world-class exploration performance and our long-term commitment to the North Sea where we believe significant potential remains," BG Group Chief Executive Officer Chris Finlayson said in a separate statement.
Eni had no statement on the project.