Nov 23, 2018
BP starts oil production in North Sea development
BP has started production at the £4.5bn Clair Ridge oil project in the west of Shetland, in one of the largest new developments in the UK North Sea in decades. The UK energy major is aiming for peak production of 120,000 barrels a day in the second phase of the Clair field, which was first discovered in 1977, it said on Friday. Clair Ridge is designed to run for 40 years and is BP's sixth major project start-up this year, which will help the company boost its production by 900,000 barrels of oil equivalent a day by 2021. The giant Clair field is estimated to have 7bn barrels of oil held in a highly fractured and complex reservoir. Clair Ridge required a complicated development process and took years before it was brought online, after approval in 2011, and is estimated to hold 640m barrels of oil.
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