06 August 2015, News Wires – Supermajor BP is pouring cash into its Eastern Trough Area Project (ETAP) in the UK North Sea as it looks to extend the field’s life for more than 15 years.
The UK giant recently kicked off a major investment programme to renew the platform and perform other operations on the field in the central part of the North Sea as a Prosafe accommodation unit began a near $100 million contract.
BP’s North Sea regional president Trevor Garlick said: “In parallel, we are drilling new wells on ETAP’s Machar and Marnock fields, replacing subsea infrastructure, and deploying new technologies to help maximise the fields’ recovery.
“ETAP holds significant potential and we are working to ensure its reliability, efficiency and long-term competitiveness. This project will secure the future of the field until 2030 and beyond.”
UK industry publication Energy Voice put the value of the investment programme at $1 billion.
“These are challenging times for the industry and we are having to make hard choices,” Garlick said in a BP statement on Wednesday.
“Nonetheless, we remain committed to improving the competitiveness of the North Sea and to maximising economic recovery from our fields.
“BP’s primary areas of focus are the west of Shetland and central North Sea, where we are investing in both new developments such as Clair Ridge and Quad204, and in extending the life of our mature assets.
In late 2013 BP signed a firm contract worth $98.2 million for 13 months, equating to $248,600, for the Safe Caledonia to work at ETAP, 240 kilometres east of Aberdeen. The arrival of that unit on site marked the beginning of the investment programme.
The oil giant also pencilled in four options for the flotel – three for one month each and one for 14 days.