Oil giant BP said today it had started production at a huge North Sea field after investing more than £4billion in the development.
The firm said that after first oil at Skarv the Norwegian field’s output would quickly ramp up to 125,000 barrels of oil equivalent (boe) per day in the first six months of the year, with 30,000 boe going to BP daily.
Chief executive Bob Dudley described start-up at Skarv as a “key operational milestone for BP, adding new production from one of our core higher-margin areas”.
The Skarv floating production vessel, 130 miles offshore Norway, is expected to produce for 25 years. The field is thought to hold 100million barrels of oil and more than 1.5trillion cubic feet of gas.
Rebecca Wiles, managing director at BP Norway, said: “Skarv will be a very important hub for BP in Norway, contributing significantly to our production growth from Norway and representing an important new source of gas to Europe.
“The field’s development has already created many jobs and business activities at Helgeland. With its expected field life of 25 years, Skarv will continue to be an important contributor to local business activities.”
Skarv is part of BP’s multibillion-pound investment programme in the North Sea.
Four major developments are under way in the UK – Clair Ridge, Quad 204 (Schiehallion), Devenick and Kinnoull – plus the Valhall redevelopment in Norway.