The North Sea’s Third Wave of Wealth Generation: Further evidence from BP as they start production from ‘one of the largest field redevelopments in North Sea history’

bp

If you’re a regular here you probably don’t need any more evidence that Scotland’s oil resources are massive and in demand as Asian consumption exceeds global output. However, we need to keep hammering home these facts to the Unionist politicians and media who are still rejoicing in the one-year slump of 2016. See:

LAST YEAR’S NEWS! Scottish oil tax receipts go into red for first and last time in 2016 after decades of subsidising London and as a ‘Third Wave’ of prosperity begins

 ‘North Sea oil output boost on horizon’ according to Reuters, only three months after we spotted it

 Now, in Energy Voice, as often recently, more good news:

Oil major BP is celebrating the start of production from Quad 204, one of the largest field redevelopments in North Sea history. Operator BP and partners Shell and Siccar Point Energy expect the mega-project to deliver 450million barrels of oil equivalent (boe) from the Schiehallion and Loyal fields through to 2035 and beyond. BP initially set a budget of £3billion for Quad 204 but later chose to invest an additional £1.4billion to widen the subsea work scope, a BP spokeswoman said.’

See the phrase I highlighted? Ignore the word ‘Loyal’. It’ll be ours soon.

https://www.energyvoice.com/oilandgas/north-sea/139623/video-bp-hails-quad-204-start-oil-major-returns-north-sea-growth-articleisfree/

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