Less Ads, More Data, More Tools Register for FREE

UK Rhum gas field could restart in 6-9 months - BP

Thu, 14th Nov 2013 17:16

LONDON, Nov 14 (Reuters) - The Rhum gas field in the NorthSea, co-owned by oil major BP and the Iranian Oil Companyand shut down to comply with Iranian sanctions in 2010, couldresume output in 6-9 months, a spokesman for BP said onThursday.

"Our view based on our experience is it will be at least 6-9months before we will be able to restart production," thespokesman said.

The British government gave the green light three weeks agoto restart the high pressure, high temperature gas field toavoid permanent damage to the facility.

A spokeswoman for Britain's energy ministry confirmed thatall outstanding documents allowing the restart had been issued.

The Rhum gas field was contributing around 4 percent to UKgas production before its shutdown.

EU sanctions against Iranian companies, including IOC, arestill in place, and the UK government will handle IOC's revenuefrom gas sales at Rhum by placing them in a frozen account.

The field started pumping gas in December 2005 and cost 350million pounds ($565.6 million) to build.

Related Shares

More News
Today 00:04

Crew evacuated from Greek-owned vessel hit by Houthis

MANILA/LONDON, June 14 (Reuters) - The crew of a Greek-owned vessel damaged in an attack by Yemeni Houthi militants has been evacuated, and the aban...

13 Jun 2024 16:22

Ukraine agrees on first LNG supply deal with US company Venture Global

June 13 (Reuters) - Ukraine signed on Thursday its first liquefied natural gas (LNG) deal with a U.S. company to help to avert an energy supply crun...

11 Jun 2024 16:00

Woodside's Sangomar project produces first oil in Senegal

DAKAR, June 11 (Reuters) - Senegal's Sangomar oil and gas field has produced its first oil, operator Woodside Energy said on Tuesday, adding that th...

11 Jun 2024 13:31

OPEC keeps global oil demand forecasts unchanged

(Sharecast News) - The Organisation of the Petroleum Exporting Countries kept its short-term global oil demand forecasts unchanged.

10 Jun 2024 23:46

Sector movers: Oil majors catch a bid after nearly a month of share price declines

(Sharecast News) - Oil & Gas shares caught a bid on Monday, tracking a rebound in oil prices after about two month's of losses, despite strength in th...

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.