BP has sanctioned two smaller North Sea developments with a combined investment of about £410 million ($580 million), giving a welcome shot in the arm to the recovering UK sector.
The Alligin and Vorlich fields are both satellite accumulations that will be tied back to existing offshore hubs in the West of Shetland area and central North Sea, respectively.
Unlike the supermajor’s massive Quad 204 and Clair Ridge developments, Alligin and Vorlich offer relatively short delivery times and faster returns on investment as well as lower costs.
