BP developments extend North Sea bounce
The supermajor bucks the trend by investing in two smaller fields.
The big guns have tended to divest smaller maturing assets in the UK's North Sea to focus on larger schemes with more money-spinning potential. So, BP's decision to push ahead with two relatively modest oilfield developments is a pleasant outcome for the region. The company said on 10 April that it had committed to developing the Alligin and Vorlich fields, which between them could produce 30,000 barrels of oil equivalent a day (boe/d) at peak. Alligin has estimated recoverable oil reserves of 20m barrels and is located 140km west of Shetland in the Greater Schiehallion Area. BP and Shell each hold 50% of the development. Meanwhile, Vorlich holds over 30m boe of estimated recoverable reserve
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