Important Offshore Shetland Field Appraisal Agreed

Press Release
Friday, March 29, 2013

BP & its co-venturers Shell, ConocoPhillips and Chevron to look at development of a third phase of the giant Clair field west of Scotland's Shetland Isles.

Trevor Garlick, Regional President for BP North Sea, said: “This is a major milestone and a further big commitment to the west of Shetland by BP and its co-venturers. If successful, the appraisal programme could pave the way for a third phase of development at Clair - this is now a real possibility.”

The initial commitment involves a two year programme to drill five appraisal wells. This could increase to between eight and twelve wells, depending on results from these first wells. Drilling of the first well commenced recently.

The objectives of the programme are to provide greater certainty on overall reservoir volumes, including their distribution and fluid characteristics; to evaluate technologies to improve recovery from Greater Clair; and to test the possibility of new standalone developments and linkages to Clair Ridge.

Edward Davey, UK Energy and Climate Change Secretary, said: “This announcement by BP of a two year appraisal programme for the Greater Clair area West of Shetland is excellent news. It shows the industry’s commitment to maximise the potential in this area, which could hold up to 17% of our oil and gas reserves."

John Hayes, Energy Minister, said: “Greater Clair is extremely significant as it reinforces West of Shetland as an important area of future oil and gas development.

The initial investment in the appraisal programme will be greater than $500 million gross.


 

Maritime Reporter July 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Contracts

Fire-stricken Icebreaker Overhauled

SENER concludes the Almirante Irizar icebreaker engineering works for re-outfit and overhaul   SENER reports it has completed the engineering works relating to

Diana to Acquire Two Post-Panamax Containerships

Diana Containerships Inc. announced that yesterday it signed, through two separate wholly-owned subsidiaries, two Memoranda of Agreement to purchase from an unaffiliated

Intelsat Records $598 mln Q2 Revenue

Satellite services provider Intelsat S.A. has reported total revenue of $598.1 million and net income attributable to Intelsat S.A. of $60.2 million, or $0.47 per common share on a diluted basis,

Offshore Energy

Activists Block Shell's Arctic Drilling Quest

Greenpeace protestors dangling from a bridge on Thursday in Portland, Oregon, halted an icebreaker that Royal Dutch Shell needs in northern Alaska before it can

Eni Mulls Mozambique LNG Supply Deal

Italian oil and gas group Eni is holding discussions with a potential buyer of liquefied natural gas (LNG) supply from its floating export project in Mozambique, an executive said on Thursday.

Mexico to Postpone Deep Water Auction

Mexico, which has started to open its nationalized oil industry to additional private investment, will postpone auctions for deep-water oil exploration and production

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Standards Naval Architecture Navigation Offshore Oil Pipelines Salvage Ship Electronics Ship Repair
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1254 sec (8 req/sec)