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By Ron Bousso
LONDON, Nov 26 (Reuters) - 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 (boed) 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 ($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 boed 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 (bpd), or roughly 40% of
total output, by 2030 as part of a shift to renewable energy to
lower its greenhouse gas emissions.
($1 = 0.7490 pounds)
(Reporting by Ron Bousso; Editing by David Goodman and Pravin
Char)
