Oh... and the Oil is running out is it.... Shetland is booming thanks to the massive surge in oil and gas exploration activities to the west of the isles. Some of the projects under way are: BP is in the process of investing £4.5 billion to unlock around 640 million barrels of oil from the giant Clair oil field (Clair Ridge phase two), which was discovered back in 1977 and is said to hold reserves of seven or eight billion barrels. Oil is scheduled to start flowing to the Sullom Voe Terminal in late 2016. Peak production is expected to be in the region of 120,000 barrels per day, although some say it could be more. BP and its partners are also in the middle of a two-year appraisal programme for Clair Ridge phase three which involves drilling a number of appraisal wells. Total is investing well above £3 billion into the Laggan-Tormore project to tap into the huge gas reserves out west. Part of the project is the construction of the Shetland Gas Plant, which currently employs 3,000 workers. Laggan-Tormore is now due to come on stream in 2015, and there are plans in place to also develop the nearby Edradour and Glenlivit gas fields. BP is also redeveloping the Schiehallion oil field at a cost of around £3 billion by upgrading sub-sea infrastructure and replacing the floating, production, storage and offloading vessel with a new 270metre FSPO. The field is due to come back on stream in 2016. American oil company Chevron is meanwhile said to make an investment decision to develop the Rosebank reservoir in 2015. This could be in the region of £6 billion. The company plans to link into existing pipeline infrastructure, but there is also talk about Chevron looking at building its own infrastructure in Shetland. Meanwhile, BP received planning permission to build a £500 million gas sweetening plant at the Sullom Voe Terminal. This investment is in addition to a £250 million refurbishment of the 35 year old terminal to serve the West of Shetland oil and gas developments. Hurricane Energy is looking to develop its light oil Lancaster and Whirlwind reservoirs, discovered in 2009 and 2011 near the established Schiehallion and Foinaven fields. Premier Oil is currently investing £830 million to bring its Solan field on stream before the end of the year. Daily production is expected to be in the region of 20,000 barrels.
Posted on: Tue, 05 Aug 2014 23:24:42 +0000
Trending Topics
Recently Viewed Topics
© 2015