North Sea expansion as BP launch massive investment program

North Sea expansion as BP launch massive investment program

14-Oct-2011 Source: HeliHub.com

Oil giant BP has announced that they will proceed with a new £4.5 Billion oil project west of the Shetland Islands off the north east Scottish coast of the uK.  The BP-operated scheme is an extension of the existing Clair oil field, and will also include investment by fellow oil firms Shell, ConocoPhillips and Chevron.

The £4.5bn Clair Ridge scheme comes after BP and its partners revealed plans earlier this year for a £3bn redevelopment of the Schielhallion and Loyal fields, also to the west of the Shetland Islands.

In addition, they are investing £700m in the development of the Kinnoull field in the central North Sea, as well as £550m in the North Sea’s Devenick gas field in association with Germany’s RWE.

BP says these projects will provide a combined 3,000 new jobs across the oil and gas supply chain.  We look forward to the knock-on effects on helicopter support

Jeremy Parkin – HeliHub.com

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