BP, on behalf of its co-venturers ConocoPhillips, Chevron and Shell, announced today the successful completion of a well drilled to establish a southwest extension of the Clair field, west of Shetland in the UK.
The giant Clair field is the UK’s largest hydrocarbon resource, with total volumes initially in place across the entire field currently estimated at more than 7 billion barrels of oil equivalent. This latest well confirms recoverable oil from a new portion of the field, further increasing confidence in the potential of the greater Clair field area.
In addition to confirming the extension of the main reservoir to the southwest, the 206/12a-3 well also discovered oil in a new, shallower reservoir horizon.
Trevor Garlick, Regional President for BP’s North Sea business said: “The results from this well look very encouraging and confirm the potential of the Clair field to produce for decades to come. Additional development phases will likely be required to access the new segments in Clair.”
During 2012 there is a plan for a further seismic survey of the field to understand the reservoir structure in more detail. Additional appraisal wells are currently being considered and the information gained will establish the scale of any further development phases.
The Joint Venture is currently progressing the second phase of development of the Clair field – the Clair Ridge development.
BP Press office, London, (01224) 832030 or (0207) 496 4076, email@example.com
Certain terms are used in this press release, such as “hydrocarbons in place” and references to estimates and projections in relation to such, that the SEC’s rules prohibit BP from including in its filings with the SEC. U.S. investors are urged to consider closely the disclosures in BP’s Form 20-F, SEC File No. 1-06262. This form is available on BP’s website at www.bp.com. You can also obtain this form from the SEC by calling 1-800-SEC-0330 or by logging on to their website at www.sec.gov.