45 mboed peak annual average production, net to BP
"The start of production from Quad 204 – one of the largest recent investments in the UK – is an important milestone for BP, marking a return to growth for our North Sea business. As one of the series of important, higher-margin major projects that are now steadily coming on line for BP, it also underpins our expectation for growing production and cash flows from our Upstream business over the coming few years." - Bob Dudley, group chief executive
The Quad 204 project has included the construction and installation of the world’s largest harsh water floating, production, storage and offloading (FPSO) vessel – the ‘Glen Lyon’, a major upgrade and replacement of subsea facilities and a continuous drilling programme of up to 20 new wells to enable the full development of the reserves. Schiehallion and the adjacent Loyal fields were first developed in the mid-1990s and have produced nearly 400 million barrels of oil since production started in 1998. With the fields’ redevelopment through the Quad 204 project, BP and co-venturers expect to unlock a further estimated 450 million barrels of resources, extending the life of the fields out to 2035 and beyond. Production from the project is expected to ramp up to a plateau level of 130,000 barrels equivalent per day (boe/d) in 2018.
|Location||UK - North Sea|
|Partners||BP 36%; Shell 54% and Siccar Point Energy 10%
|Projects type||Conventional oil|
|Peak annual average production
||~125 mboed (gross)
~45 mboed (net)
Since the Quad 204 project was sanctioned in 2011, over £2bn of contracts have been awarded to UK companies. BP is planning to double its North Sea production to 200,000 boe/d by 2020 and sustain a material business in the region for several decades. Production from the new Clair Ridge major project is expected next year. And over the next 18 months, BP plans to participate in up to five exploration wells in the UK, in addition to drilling approximately 50 development wells over the next 3-4 years.
Quad 204 UK investment
Since the Quad 204 project was sanctioned in 2011, over £2bn of contracts have been awarded to UK companies. Download the map to see where the investments have been made.
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