BP and Delek Group-owned Ithaca Energy have started oil and gas production at the Vorlich field in Britain's central North Sea, the companies said on Thursday.
The project is expected to produce 20,000 barrels of oil equivalent per day (boe/d) at its peak and has resources of 30 million barrels of oil equivalent.
BP holds a 66% stake in the field while Ithaca, the operator of the 230 million pound (US$307 million) project, holds the remaining 34%.
It is BP's third of five major projects expected to start up in 2020 as part of a plan to increase the company's production by 900,000 boe/d in the five years to the end of 2021.
More long term, though, BP aims to reduce its overall oil production by 1 million barrels per day, or roughly 40% of total output, by 2030 as part of a shift to renewable energy to lower its greenhouse gas emissions.
In this case study, Gyrodata explains how a “first-of-its-kind” solid-state gyro-while-drilling system drove efficiency and wellbore placement improvements for an offshore oil and gas operator in the North Sea.
The agreements are awarded on behalf of Equinor-operated licenses on the NCS and onshore plants in Norway, and on behalf of Gassco as the operator for the Kollsnes and Kårstø gas processing plants.
Here’s an overview of the initial steps needed to investigate the feasibility of a carbon sequestration project by Steve Hendrickson, president of Ralph E. Davis Associates, an Opportune company.