News / Clair oil beyond 2050
OIL companies BP and its partners Shell, ConocoPhilipps and Chevron have announced further investments of £330 million into the Clair oil field, 75 kilometres west of Shetland.
The consortium said it would be drilling up to 12 new wells to further appraise the giant oil field that is holding around eight billion barrels of reserves.
Oil production at Clair started in 2005, almost 30 years after its discovery.
Last year BP announced that it would spend £4.5 billion into developing phase two of the project.
This latest investment could lead to phase three taking oil production well beyond 2050, and securing the future of the Sullom Voe terminal until that time.
BP North Sea regional president Trevor Garlick said: “This is a major milestone and a further big commitment to the west of Shetland by BP and its co-venturers.
“If successful, the appraisal programme could pave the way for a third phase of development at Clair – this is now a real possibility.”
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.
