![]() ![]() BP expects to divest assets with a total value of $38 billion between 20 as it focuses its business around the world on its strengths and opportunities for growth. With today’s announcement, BP has now entered into agreements to sell assets with a value of around $33 billion since the beginning of 2010. The dispute ultimately had to be settled by arbitration. The history of Draugen is the story of breaking boundaries, changing a city and a region. The oil field is operated by AS OKEA, which acquired it from A/S Norske Shell in 2018. A big battle was fought over the bill for fabricating the Draugen platform topsides at the Kværner Rosenberg yard in Stavanger. The platform has a production capacity of 140,000 barrels of oil equivalent per day, and it has produced around 450 million barrels of oil equivalent since 1993. Completion of the deal is anticipated by the end of 2012, subject to regulatory approval. Great emphasis was placed by Norske Shell on safety and the working environment when the drilling module for the Draugen platform came to be. Net BP production from Draugen, which is operated by Shell, averages some 6,000 barrels per day. Parallel with Marshall Aid in the post-war years, Shell’s US arm also participated in Norway’s reconstruction. Norske Shell had 130 employees when the war broke out, but this had fallen to just 80 by 1942 because of extensive layoffs. Significant investments have been made in Ula and the field is expected to produce until 2028. The oil store in Oslo was the last to be wiped out, on 23 January 1945. The Skarv project, involving a new floating production storage and offloading (FPSO) vessel in the Norwegian Sea, is expected to produce for 25 years and to be a key hub for BP in Norway. The Valhall re-development project involves the installation of a new platform, extending production from the field out to 2050. With the start-up of Skarv and Valhall redevelopment, BP’s Norwegian production is expected to more than double, to over 60,000 barrels of oil equivalent per day. Draugen was discovered in 1984 by Shell, the plan for development and operation (PDO) was approved in 1988, and with production start in 1993. Four options remained for further consideration in May 1986. The current philosophy is to use diesel as a replacement for fuel gas. The gas production at Draugen is declining and it is expected to be a shortage of gas used for electrical production. Client: Aibel, Kristiansund Field of application: Flow Diesel Refurbishment. It had then assessed many different platform solutions since the second appraisal well in August 1985. Location: Kristiansund Period: 2016 2018. “These investments, together with our continuing operation of the Ula field, underline our long term commitment to Norway.” Shell declared the Draugen field commercial in May 1987. “BP is a significant investor in Norway and is in the final stages of completing two major projects, the Skarv field and the re-development of the Valhall field, which will greatly increase our production from the country,” said Rebecca Wiles, managing director of BP Norway. ![]()
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