Things seem to be going good for BP, especially after the British oil major on Thursday agreed to take over a huge swap of oil assets from Devon Energy Corp., an independent oil and gas producer of the US.

The deal cost BP a total of $7 Billion, but it will be giving the company back much more, as it means that BP will now be able to dip its hands in the hot new oil region which is off the shores of Brazil. Not only is it unexplored and completely fresh, it will add some substantial cash to the petro-company's account in order for it to undertake more such acquisitions and explorations.

For small companies like Devon, offshore projects have often proved to be difficult, mainly because of the amount of money involved in everything from testing to exploration to drilling. But once such companies join hands with majors like BP, things tend to become much easier.

The bigger firms willingly put in all the money, in order to cash in on the opportunities, and it encourages the small counterparts to continue looking for new and fresh pockets. Also, partnering with a major company is always the most lucrative opportunity for a smaller one.

BP seems to be on its way to definite success now, with the new takeover, and also on the back of the British economy steadily rebounding and global demand picking up again. The company is expecting 2010 to be a good year.