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 March 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Contracts

Japan LNG Imports Hit Record Levels

Japan imported record volumes of liquefied natural gas (LNG) and thermal coal in the fiscal year ended in March, as the country's  shutdowns of nuclear stations

Container Ship Delivers First Boxes to Great Lakes Port

The US Coast Guard say that the 'Fortunagracht', a 450-foot Dutch-flagged container ship, has delivered the first-ever load of containerized cargo to the Great Lakes.

Shipping Turns From Banks to Equity Markets for Cash

Shipping companies are turning to equity markets to fill a growing funding gap, betting that investors hungry for decent returns will provide capital to a sector

Offshore Energy

BP to Outline Enhanced Oil Recovery

Euan Duncan, Discipline Lead Reservoir Engineer at BP, will address SPE Aberdeen’s members and the wider public on April 23, at a presentation covering how EOR

BP Spill Compensation Battles Rage On

BP pays billions in compensation but some claims still unpaid; Oil still appearing on beaches in Gulf of Mexico. Company says claims process is flawed, not all oil from spill.

Shell Commited To Russia Expansion Despite Sanctions

Royal Dutch Shell is committed to expansion in Russia, Chief Executive Ben van Beurden told Russian President Vladimir Putin at a meeting on Friday amid sanctions

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Standards Offshore Oil Pipelines Port Authority Ship Repair Ship Simulators Shipbuilding / Vessel Construction Sonar
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: 0.1617 sec (6 req/sec)