Press

BP announces start of production from Quad 204 project, west of Shetland


UK project is the third of seven new upstream major projects expected to come on stream for BP in 2017.

BP, on behalf of co-venturers Shell and Siccar Point Energy, is pleased to announce first oil from the redeveloped Schiehallion Area, following completion of the multi-billion-pound Quad 204 project in the west of Shetland region, offshore UK.

Schiehallion and the adjacent Loyal fields were first developed in the mid-1990s and have produced nearly 400 million barrels of oil since production started in 1998. With the fields' redevelopment through the Quad 204 project, BP and co-venturers expect to unlock a further estimated 450 million barrels of resources, extending the life of the fields out to 2035 and beyond. Production from the project is expected to ramp up through the remainder of 2017 to a plateau level of 130,000 barrels of oil per day.

The project has included the construction and installation of the world's largest harsh water floating, production, storage and offloading (FPSO) vessel - the ‘Glen Lyon' -a major upgrade and replacement of subsea facilities and a continuous drilling programme of up to 20 new wells to enable the full development of the reserves.

BP is planning to double its UK North Sea production to 200,000 barrels of oil equivalent a day (boe/d) by 2020 and sustain a material business in the region for several decades. Production from the new Clair Ridge major project is expected next year. Over the next 18 months, BP plans to participate in up to five exploration wells in the UK, in addition to drilling approximately 50 development wells over the next 3-4 years.

Quad 204 is the third of seven Upstream major projects BP expects to bring online in 2017, following the earlier start-ups of the Trinidad onshore compression project and the Taurus/Libra development of the West Nile Delta project in Egypt. New projects starting up through 2016 and 2017 are expected to deliver 500,000 boe/d net new production capacity for BP by the end of this year. With further projects beginning production through to the end of the decade, BP expects approximately 800,000 boe/d production from new projects by 2020.

Bob Dudley, BP Group Chief Executive, said: “The start of production from Quad 204 - one of the largest recent investments in the UK - is an important milestone for BP, marking a return to growth for our North Sea business. As one of the series of important, higher-margin major projects that are now steadily coming on line for BP, it also underpins our expectation for growing production and cash flows from our Upstream business over the coming few years.”

Mark Thomas, Regional President for BP's North Sea business, said: “In safely delivering first oil from the Quad 204 project, we have succeeded in one of the largest ever UK mid-life offshore redevelopments. BP has developed a strong track record of finding, developing and operating big offshore oil resources west of Shetland - we have and will continue to use the latest technology to maximise recovery from the Schiehallion Area.”

Since the Quad 204 project was sanctioned in 2011, over £2 billion of contracts have been awarded to UK companies.



New service from OilVoice
Trip Shepherd is for companies who need to track their staff in areas of risk.
It's free to use, so we invite you to try it.

Visit source site

bp.com/en/global/corporate/media/press-releases/bp...

BPShetlandNorth SeaShell

More items from oilvoice


Cyber Security Experts Unite to Protect Europe’s Critical Industries

CS4CA Summit Returns to London this October Staying abreast of fast-paced industry developments is crucial for cyber security professionals. And while one can learn a lot from publications and social media, it's hard to beat the value of insights gained first-hand from peers. This is why 150+ IT ...

OilVoice Press - OilVoice


Posted 1 month agoPress > cybereurope

Africa E&P Summit

The organisers of the Africa E&P Summit are bringing together Africa's leading exploration companies and governments, just one of the many reasons why you should be attending frontier's event that they are organising and hosting in London at the IET: Savoy Place, 22-23 May. Over 200 key senior exec ...

OilVoice Press - OilVoice


Posted 5 months agoPress > Africasummitoil summit +2

Equinor Deepens in Offshore Wind in Poland

Equinor has exercised an option to acquire a 50 % interest in the offshore wind development project Bałtyk I in Poland from Polenergia. This transaction is a follow-up of the agreement between the two companies which came into force in May 2018 , by which Equinor acquired a 50 % inter ...

OilVoice Press - OilVoice


Posted 10 months agoPress > EquinorEquinor EnergyPoland +2

Nigeria has highest capex on crude and natural gas projects in sub-Saharan Africa Over Next Seven Years, says GlobalData

Nigeria accounts for more than 34% of the proposed capital expenditure (capex) on planned and announced crude and natural gas projects in the sub-Saharan Africa over the period 2018–2025, according to GlobalData , a leading data and analytics company. The company's report: ‘H2 2018 Production ...

OilVoice Press - OilVoice


Posted 10 months agoOpinion > GlobalDataNigeriaCrude +5

CNOOC Signs Strategic Cooperation Agreements with 9 International Oil Companies

HONG KONG, Dec. 18, 2018 /PRNewswire/ -- CNOOC Limited (the "Company", SEHK: 00883, NYSE: CEO, TSX: CNU) announced today that its parent company, China National Offshore Oil Corporation (CNOOC), has signed Strategic Cooperation Agreements with 9 international oil companies including: Chevron, Conoco ...

OilVoice Press - OilVoice


Posted 10 months agoPress > CNOOCChina National Offshore Oil CorporationChevron +11
All posts from oilvoice