BP boosted by start-up of new Valhall facilities

By Beate Schjolberg Oslo

 31 January 2013 23:59 GMT

UK player BP and partner Hess have switched on their new Valhall field centre to prolong oil production at the North Sea development to nearly 70 years.

The project has taken more than two years longer than planned and gone well above budget due to industry cost increases, design changes and more complex challenges than originally anticipated.

With the platform finally in place, BP aims to keep pumping at the field until 2050.

Even after 30 years in production, Valhall is among Norway’s top three producing oilfields measured by remaining oil reserves with about 263 million barrels still in the ground.

The project “is one of BP’s most complex field expansion developments, and gives Valhall a further 40-year design life”, said…

Become an Upstream member!

Membership includes a subscription to our weekly newspaper providing in-depth news from the energy industry, plus full-access to this site and its archives. Still not convinced? Try our free trial.

Already a member?

Login

Upstream share price index