BP increases stake in Culzean in the North Sea

BP has doubled its interest in the Maersk Oil-operated Culzean development in the UK central North Sea to 32% after acquiring an additional 16% from JX Nippon.

Offshore staff

ABERDEEN, UK – BP has doubled its interest in the Maersk Oil-operated Culzean development in the UK central North Sea to 32% after acquiring an additional 16% from JX Nippon.

Mark Thomas, BP regional president North Sea Region said: “This is a challenging time for the industry and we must continue to work together to ensure that when developments like Culzean, or other projects such asBP’s Quad 204 and Clair Ridge, come online they can be run as efficiently as possible.”

Culzean is a gas condensate field with estimated resources of 250-300 MMboe. Production is due to start in 2019 and continue into the 2030s, with plateau output of 60,000-90,000 boe/d.

05/16/2016

Share your news withOffshore at news@offshore-mag.com

More in Regional Reports