BP

BP has produced first oil from the redeveloped Schiehallion area, following the completion of the Quad 204 project in the west of Shetland region offshore the United Kingdom. Schiehallion and the adjacent Loyal field have produced almost 400 million bbl of oil since startup in 1998. Redevelopment through Quad 204 is expected to unlock a further 450 million bbl of resources and extend the fields’ lives beyond 2035. Oil production will ramp up during 2017 to a plateau level of 130,000 B/D. BP has a 36% interest in the Glen Lyon harsh-water floating production, storage, and offloading vessel, which was installed in the project to produce from the fields. Shell (54%) and Siccar Point Energy (10%) hold the remaining vessel interests. Field interest holders at Schiehallion are Shell (55%), BP (33%), and Siccar Point (12%), and at Loyal field are BP (50%) and Shell (50%).


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