BP Receives Go-Ahead for Clair Field

BP received approval from the Department of Trade and Industry for the $940 million development of the Clair oil and gas field. BP also reports an increase in the estimated reserves to 273 million barrels up from 250 million. Production is expected to begin in the fourth quarter of 2004 and produce 60,000 barrels per day of oil and 15 million cubic feet of gas per day.

Development plans call for a a single steel jacket to be installed in 460 feet of water along with topsides and integrated drilling facilities. A new pipeline running to the Shetlands will be constructed.

Clair was discovered in 1977, approximately 45 miles west of the Shetland Islands. BP operates the field with a 28.6% interest. Partners include Conoco with 24%, ChevronTexaco with19.4%, Enterprise Oil with18.7% and Amerada Hess with the remaining 9.3%.