As a public service and to keep Gulf Coast Community informed of the British Petroleum commitment to openess and transparency the following communication from the company is presented for your review. Examiner.com writer, Hank Richards, is a registered media news recipient of the British Petroleum press pool, permitted to display BP images and specific news data in a way that tells a story that may not have been seen by the public in previous months.
BP's message to its Gulf Coast neighbors follows since BP continues to have a vested interest in the U.S. Gulf Coast:
British Petroleum is pleased to announce an agreement for re-development of oil fields to the west of the Shetland Islands.
These companies have produced nearly 400 million barrels of oil since production started in 1998 and an estimated 450 million barrels of resource is still available. The re-development of the fields will take production through 2035.
"This important milestone is consistent with BP's strategy to sustain a material, high quality business in the North Sea region. The Schiehallion and Loyal oil fields are established assets with a strong future - and we and our co-venturers are taking some significant steps to maximise the greater potential we now see in these fields," said Trevor Garlick, Regional President for BP's North Sea business.
Bob Dudley, group chief executive of BP commented on the re-development.
"This decision is another example of BP's strategy to deliver long-term value growth through investing in the large fields and in key basins where it has extensive knowledge . . . We are committed to growing and maintaining a material, high quality business there for the long term. We are pursuing a number of additional growth opportunities to support this strategy. For us a key to this strategy is the need to maintain the integrity of our existing infrastructure; to look after our reservoirs and maximize recovery; and to deploy and develop the necessary capability.
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This column was prepared for publication by Hank Richards, Examiner writer for Huntsville, Alexandria, the British Petroleum Recovery Program and the Gulport/Biloxi/Gulcoast restoraton region.
To report a breaking story or to write a letter to the editor for publication, contact Hank at (256) 417-6084 or send at email to tips@pronlinenews.com at his website www.pronlinenews.com
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