BP: Shutting Down Output from Valhall Offshore Norway

WASHINGTON, Nov 1, 2006 (Dow Jones Newswires)

BP Plc (BP) is shutting down production and has stopped drilling operations Wednesday at its Valhall field in the North Sea following damaged lifeboat equipment in bad weather, a spokesman said.

The field normally produces around 80,000-90,000 barrels of crude and around 20,000 barrels of oil equivalent associated gas. BP was also drilling at the field as part of a field extension project.

Spokesman Jan Erik Geirmo said it was unclear how long the platform would remain offline: "We're establishing an investigation team to track the damage and then we'll see how long it could be off."

"Clearly we won't be bringing it back online until it's safe again," Geirmo said.

BP is drilling as part of a program to extend the Valhall field life to 2050.

ConocoPhillips (COP) spokesman Ingvar Solberg said around 30,000-40,000 barrels a day of output at the company's Ekofisk and Eldfisk fields were temporarily shut in Tuesday night and Wednesday morning because of poor weather, but most of that production had been returned to service.

Copyright (c) 2006 Dow Jones & Company, Inc.

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