Assets to change hands include the Andrew area operated by BP and its non-operating interest in the Shearwater field.The deal, expected to close later this year, is part of BP’s plan to divest $10 billion by the end of 2020.
“BP has been reshaping its North Sea portfolio to focus on core growth areas including Clair, Quad 204 and the ETAP hub,” said Ariel Flores, BP’s North Sea regional president.“We are adding production advantages to our hubs through the Alligin, Vorlich and Seagull tie-back projects.”
BP operates five fields in the Andrews area: Andrews (62.75%); Arundel (100%); Faragon (50%); Kinnaur (77%).The Andrew property is located approximately 140 miles northeast of Aberdeen and also includes associated subsea infrastructure and the Andrew platform from which all five fields produce.
The first oil was obtained in the Andrews area in 1996, and as of 2019, production averaged between 25,000-30,000 BOE/D.BP said 69 employees would be transferred to Premier Oil to operate the Andrew property.
BP also holds a 27.5% interest in the Shell-operated Shearwater field, 140 miles east of Aberdeen, which produced around 14,000 boe/d in 2019.
The Clare Field, located in the west of the Shetland Islands, is being developed in stages.BP, which owns a 45% stake in the field, said the first oil in the second phase was achieved in 2018, with a target total output of 640 million barrels and a peak output of 120,000 barrels per day.
The Quad 204 project, also west of Shetland, involves the redevelopment of two existing assets – the Schiehallion and Loyal fields.Quad 204 is produced by a floating, production, storage and offloading unit involving replacement of subsea facilities and new wells.The redeveloped field received its first oil in 2017.
In addition, BP is completing a major subsea tie-back installation program, which eliminates the need to build new production platforms to develop other marginal reservoirs:
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