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I have a similar question. The diagram shows what appears to be a secondary floating structure between the seabed manifolds and the buoy. What is it purpose? Is it a secondary floating manifold or something else ? We have seen pictures of the seabed manifolds being constructed but I don't recall seeing photos of this secondary floating structure.
Big fall in the Oil Price overnight so there 'may. be further downward pressure today. It is difficult to judge how connected to the price of Oil Hurricane are this close to production.
Shale Oil is the last scrapings of the barrel. There are already signs that they are close to Peak production with only the Permian doing really okay at the moment. I just don't see any of the Majors taking a big punt in the Shale plays unless they have something new and importantly cheap to bring to the way that it is produced.
I couldn't get the link to the press release to work. Key snippets from the BP announcement:
"This is a further step in focusing our portfolio around core assets and developments which have the potential for significant growth. Clair is a key advantaged oilfield for our North Sea business, a giant resource whose second phase is about to begin production and which holds great potential for future developments," said BP Upstream chief executive Bernard Looney"
"The giant Clair field west of Shetland has a complex fractured reservoir estimated to have had more than 7 billion barrels of hydrocarbons originally in place. The field is operated by BP which currently holds a 28.6% interest. Production from Clair's first phase of development began in 2005 and the field produced an average of 21,000 barrels of oil equivalent a day (boed) in 2017. A major second development phase, Clair Ridge, is expected to start production later this year with production capacity of 120,000 boed. Appraisal has also identified potential for future stages of development of Clair."
"The Clair field, 47 miles (75 kilometres) west of Shetland, was discovered in 1977. The field had more than 7 billion barrels of hydrocarbons estimated originally in place but held in a highly complex and fractured reservoir.
•The first phase of development of Clair began production in 2005, targeting approximately 300 million barrels of recoverable resources via the first fixed offshore facility to be installed in the West of Shetland area.
•The second phase of development, Clair Ridge, is targeting a further 640 million barrels of recoverable resources. Construction of Clair Ridge's two bridge-linked platforms was safely completed in 2016, commissioning activities are now underway and production from the project is expected to begin later in 2018. Peak production is expected to be around 120,000 boed.
•The Clair partners are now evaluating a potential third phase of development of the field.
•The current Clair partners are: BP, operator, 28.6%; ConocoPhillips, 24%; Shell UK Limited, 28%; and Chevron North Sea Limited 19.4%."
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Thx for that rpoodle, another small piece in the jigsaw.
While on the subject of land, does anyone know if RKH or the FiG ever found a site for the assembly of the umbilical's ? I seem to recall that it needed to measure a couple of km long and be on a sheltered part of the coast.
How about renaming the FPSO as part of the relaunch ?
I think 6 quid is inevitable, but to climb significantly higher BP will need a couple of quarters of good profits, more project delivery, a consistent Oil price in the $80's plus the likelihood of an increased divi. If all these come off (and its a big 'if') then I wouldn't rule out breaking the all time high share price in the next 9-18 months.
The other stuff on the deck. Is that the lower two sections of the much discussed flair stack for the FPSO ?
If you want to hold BP long term, then HSBC offer a dedicated BP ISA. Apparently it is quite popular with BP employees but is open to anyone. Last time I looked there was a link in the investors section of the BP home page.
This is really important news. It will significantly streamline the recommissioning process. FPSOs are complex beasts and having folks onboard who know the ropes is a massive box ticked towards a smooth run up to first oil.
Aye, 40-50 foot high waves are not unheard of west of Shetland so the greenwater protection is essential
Genghis, If that story is correct that would be an indication that BP is committed long term to the West of Shetland and could be bellwether for activity in the next decade. With Clair being so close to HUR's acreage and any associated tie ins to the Clair infrastructure, then BP's influence will only be increased.
Agree Boyzee, Kudos to the various folks on here who worked out exactly what was going on long before the RNS.
I don't recall Noble announcing a drilling campaign. Yes they have plenty of activity onshore but I wasn't aware of anything offshore or in the Argos region.