News / Clair Ridge milestone
THE PARTNERS in the £4.5 billion Clair Ridge development, 75 kilometres west of Shetland, reached a major milestone, when engineers safely installed two massive platform jackets in 140 metres of water.
Oil company BP said on Tuesday that the project was on schedule to start production in late 2016.
Oil and gas will be exported via a pipeline to the Sullom Voe Terminal, in Shetland.
The Clair Ridge investment is the second phase of developing one of the largest oil and gas reservoirs in the UK.
The field holds an estimated eight billion barrels of oil equivalent although there is considerable uncertainty as to how much of the oil can eventually be recovered.
Clair Ridge is designed to extract 640 million barrels of that oil over a 40 year period with peak production expected to reach 120,000 barrels a day.
Regional president for BP’s North Sea business, Trevor Garlick, said: “Less than two years ago we announced our decision to invest in the giant Clair Ridge project.
“The safe installation of the two jackets in to the sea bed is a fantastic achievement by the project team, and is a very visible sign of our commitment to maintaining a successful long term business in the UK.”
Originally discovered back in 1977, phase one of the Clair development only commenced in February 2005. To date, 80 million barrels of oil have been produced.
The partners in the multi billion investment are: BP Exploration (27.6 per cent), ConocoPhillips (24 per cent), Chevron (19.4 per cent), Enterprise Oil (18.7 per cent), Shell (9.3 per cent) and Britoil (1 per cent).
Become a supporter of Shetland News
Shetland News is asking its many readers to consider start paying for their dose of the latest local news delivered straight to their PC, tablet or mobile phone.
Journalism comes at a price and because that price is not being paid in today’s rapidly changing media world, most publishers - national and local - struggle financially despite very healthy audience figures.
Most online publishers have started charging for access to their websites, others have chosen a different route. Shetland News currently has over 600 supporters who are all making small voluntary financial contributions. All funds go towards covering our cost and improving the service further.
Your contribution will ensure Shetland News can: -
- Bring you the headlines as they happen;
- Stay editorially independent;
- Give a voice to the community;
- Grow site traffic further;
- Research and publish more in-depth news, including more Shetland Lives features.
If you appreciate what we do and feel strongly about impartial local journalism, then please become a supporter of Shetland News by either making a single payment or monthly subscription.
Support us from as little as £3 per month – it only takes a minute to sign up. Thank you.
Already a supporter? Sign in to hide this message.
