Finance & Investing
News Services
Newsletters
Get free industry updates via email.
Daily News
Weekly News
Equipment Updates
Weekly Job Register
Monthly Event Guide
Our privacy
pledge.


advertisement

Britain Pushing to Ease Sanctions on BP Gas Field - Report

change text size

Reuters

LONDON, Sept 22 (Reuters) – Britain could be close to agreeing a deal to ease sanctions that have stopped gas production from the North Sea's Rhum field, jointly owned by BP and the National Iranian Oil Co., the Mail on Sunday newspaper said.

Production from the field, which once supplied 5 percent of Britain's gas output, has been suspended since 2010 as a result of international sanctions against Iran.

But with signs of a thaw in relations between Iran and the West, the government now hopes to win agreement from the European Union and the United States for a sanctions waiver in the near future, the newspaper said, citing people close to the talks.

One stumbling block to a deal, however, could be concerns from companies involved in financing and servicing the field that any exemption for the producers would not fully protect them from legal action, it added.

A Department of Energy and Climate Change spokesman said: "We are working to ensure the long-term security of the Rhum gas field but no decision has been made at this time on a solution."

A spokesman for BP declined to comment on the possibility of a waiver being granted.

"As operator of the field our priorities are two-fold - to ensure the field remains safe and that we remain compliant with the law," he said. "It is up to the government to decide on the longer-term options."

Copyright 2014 Thomson Reuters. Click for Restrictions.

WHAT DO YOU THINK?

Post a Comment Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.

Related Companies

Most Popular Articles
From the Career Center
Jobs that may interest you
Vice President - Oil & Gas Marketing
Expertise: Contracts Engineer, Energy / Commodity Trader, Sales and Marketing
Location: Denver, CO
 
ROW / Surface Agent
Expertise: Landman
Location: Bridgeport, WV
 
Field Representative
Expertise: Field Development
Location: Bridgeport, WV
 
search for more jobs