Release date: 25 June 2015
BP and its co-venturers, ConocoPhillips, Chevron and Shell, are pleased to confirm the safe installation of the new Clair Ridge platform’s quarters and utilities (QU) topside modules, a major milestone in the Clair Ridge project.
The QU platform comprises three modules – the quarters and utilities integrated deck (QUID) which has a lift weight of 9,400te; the power generation (GM) module which has a lift weight of 4,550te; and the living quarters (LQ) module which has a lift weight of 2,210te. They were safely lifted onto the pre-installed jackets by the Heerema Thialf heavy lift vessel.
The hook up and commissioning of these modules has created over 600 jobs, including six electrical apprentices, all of which have recently been recruited through Amec Foster Wheeler.
Clair Ridge is a multi-billion investment in the second phase of development on the Clair field which lies 75km to the west of the Shetland Islands. The project comprises two new bridge-linked platforms and new pipeline infrastructure to connect storage and redelivery facilities on Shetland. The next major milestone will be the installation of the production and drilling (DP) platform topside modules, scheduled for summer 2016, with production expected to commence in late 2017.
Trevor Garlick, Regional President for BP’s North Sea business said: “The safe installation of these three topside modules is a fantastic achievement by the project team. In a challenging time for the industry, this project shows the potential of our basin and why it is so important that we work to ensure a competitive future business.”
Approximately half of the Clair Ridge investment is occurring in the UK, with over 80 British companies providing engineering design and support service, hook-up and installation services, manpower and a wide range of engineered equipment.
The Clair Ridge development will have the capability to produce an estimated 640 million barrels of oil over a 40 year period, with peak production expected to be up to 120,000 barrels of oil per day.
Clair Ridge is the first sanctioned large-scale offshore enhanced oil recovery (EOR) scheme using reduced salinity water injection (LoSal® EOR) to extract a higher proportion of oil over the life of the field. To reduce the environmental impact of the project, the platforms will be powered using dual-fuel power generators, incorporating waste heat recovery technology. Vapour recovery will also be used to capture and recycle low pressure gas for use as fuel or for exporting to shore.
BP Exploration Operating Co 27.6215%
Britoil plc (BP) 0.98%
ConocoPhillips (U.K.) Limited 24.0029%
Chevron North Sea Limited 19.4225%
Enterprise Oil Limited (Shell) 18.6831%
Shell Clair UK Limited (Shell) 9.2900%
This press release contains certain forward-looking statements concerning BP's expectations regarding the Clair Ridge platform, including the estimated level of daily production and total production over the next 40 years, the timing of future additions and installations at the platform and start-up thereof; expectations regarding the use of new technology and the environmental impact thereof; BP’s plans to sustain business in the North Sea in the long-term; plans and expectations regarding BP’s investment programme in the North Sea and its renewal programme for mature assets; expectations regarding the production life of the project, the area targeted by the second phase of the development, estimated reserves and estimated recovery thereof; and expectations regarding the estimated proportion of costs that will be spent in the United Kingdom. Actual results may differ from those expressed in such statements, depending on a variety of factors including changes in public expectations and other changes to business conditions; the timing, quantum and nature of divestments; the receipt of relevant third-party and/or regulatory approvals; future levels of industry product supply; demand and pricing; OPEC quota restrictions; PSA effects; operational problems; regulatory or legal actions; economic and financial conditions generally or in various countries and regions; political stability and economic growth in relevant areas of the world; changes in laws and governmental regulations; exchange rate fluctuations; development and use of new technology; the success or otherwise of partnering; the actions of competitors, trading partners and others; natural disasters and adverse weather conditions; changes in public expectations and other changes to business conditions; wars and acts of terrorism, cyber-attacks or sabotage; and other factors discussed under "Risk factors" in our Annual Report and Form 20-F 2014.
This press release contains references to non-proved resources and production outlooks based on non-proved resources that the SEC's rules prohibit us from including in our filings with the SEC. U.S. investors are urged to consider closely the disclosures in our Form 20-F, SEC File No. 1-06262. This form is available on our 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