ShippingWatch

BP extracts first oil from North Sea expansion

After several rough years for oil production in the North Sea, BP is now ready to extract first oil from a reconstructed field. The investment is the first step in a major venture on the British North Sea Shelf.

Photo: BP/PR

The North Sea is far from a thing of the past for British oil major BP. The company has reiterated this sentiment and while its main competitor Shell has divested of activities in the North Sea and shut down fields, BP has increased investments in the area and heralded that it will be active in the British part of the North Sea until at least 2035 and likely longer.

One step in the company's North Sea venture concerns the oil fields in the area West of Shetland, and BP now reports that first oil has been extracted from the reconstructed field Schiehallion. The West of Shetland field is part of BP's investment in the area worth billions, and investment which has been dubbed Quad 204. Besides the Schiehallion field, the investments include a reconstruction of the Loyal field as well.

Read the whole article

Get 14 days free access.

No credit card is needed, and you will not be automatically signed up for a paid subscription after the free trial.

  • Access all locked articles
  • Receive our daily newsletters
  • Access our app
An error has occured. Please try again later.

Get full access for you and your coworkers.

Start a free company trial today

More from ShippingWatch

Maersk Product Tankers expects 2022 to be "not an amazing year"

There’s no doubt that 2021 was a miserable year for the global tanker industry. But 2022 could end up strong, many parties say. Maersk Product Tankers is more doubtful. ”2022 won’t be an amazing year,” CEO Christian M. Ingerslev tells ShippingWatch.

Researcher criticizes TotalEnergies' fuel report

TotalEnergies ignores shipping’s climate adaptions in the company’s prognosis for shipping’s future fuel consumption, researcher says in criticism. Among other things, TotalEnergies supports LNG.

OOCL doubles revenue despite significant drop in volumes

Container line OOCL, owned by China’s Cosco, doubled its revenue in 2021, with the top line for Q4 alone surging by 101.4 percent, the carrier says. This major increase happens despite a dive in container liftings during the quarter.

Further reading

Related articles

Latest news

See all jobs