BP optimistic for UK Kinnoull economics

Despite falling oil prices BP is retaining a positive outlook of the North Sea field

BP hints it is comfortable with the economics of its new Kinnoull field, in the UK’s central North Sea, despite the oil price now being only half what it was when the development was launched. The firm says it sanctioned the project, in 2011, on the basis of likely oil prices over the field-lifetime of a decade or more. Kinnoull will also benefit the firm by extending the life of nearby Andrew field infrastructure. Kinnoull was developed as a subsea tie-back to the Andrew platform, where production was dwindling after flowing since 1996. With the Andrew platform refurbished to handle the flow from Kinnoull, it will be possible to keep the Andrew field in production for another decade. In tha