BP Clair Field Inauguration

Wednesday, February 23, 2005

The BP-operated Clair oilfield has been officially inaugurated by Tony Hayward, BP’s Chief Executive, Exploration and Production and Mike O’Brien, Minister of State for Energy & E-Commerce.
Tony Hayward said: “Development of the Clair project has set new standards in design, engineering and construction, and has demonstrated that UK industry can be truly internationally competitive.”
“Some 16 UK companies have been involved in this project, and through Clair we have built some real capability and insights for UK industry to respond to the challenge of developing complex reservoirs. Clair, which for so long proved impossible to develop, now has an exciting future.”
“With an estimated 5 billion barrels of oil in place in Clair this is very much the start of the journey. Providing that a stable business and fiscal environment remains, we believe this first phase of production will allow us to unlock more of the Clair reservoir.”
Mike O'Brien said: “The development of Clair sends a clear message that the UKCS still has a great future and that companies such as BP, still have a key part to play in that future.”
“I would like to extend my congratulations to BP and its Partners for this major accomplishment in completing this challenging development.”
“This is a great achievement for all the UK companies involved whose skills and expertise really made the difference.”
Development of the Clair field was approved in 2001, representing investment of £650 million by BP and its Clair partners.
The facilities were installed offshore during the summer of 2004. Installation of the 11,700 tonnes topsides, by a single lift, was one of the heaviest offshore lifts ever carried out in the UK Continental Shelf.
The Clair partnership comprises: BP (operator) 28.6%, ConocoPhillips 24.0%, ChevronTexaco 19.4%, Shell 18.7%, Amerada Hess 9.3%.

About Clair
Commissioning of the facilities was completed in January 2005 and final preparations are now taking place for first production, which is expected soon.
The Clair development comprises a conventional platform with production and process topsides facilities supported by a fixed steel jacket. The development is the first fixed platform in the west of Shetland area.
Oil from the field will be exported to the Sullom Voe Terminal in Shetland via a 105 kilometre, 22 inch diameter pipeline. Gas will be exported through a 10 kilometre, 6 inch diameter spur line into the Magnus Enhanced Oil Recovery trunkline.

This article is for information and discussion purposes only and does not form a recommendation to invest or otherwise. The value of an investment may fall. The investments referred to in this article may not be suitable for all investors, and if in doubt, an investor should seek advice from a qualified investment adviser. More

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