BP developments extend North Sea bounce
The supermajor bucks the trend by investing in two smaller fields.
The big guns have tended to divest smaller maturing assets in the UK's North Sea to focus on larger schemes with more money-spinning potential. So, BP's decision to push ahead with two relatively modest oilfield developments is a pleasant outcome for the region. The company said on 10 April that it had committed to developing the Alligin and Vorlich fields, which between them could produce 30,000 barrels of oil equivalent a day (boe/d) at peak. Alligin has estimated recoverable oil reserves of 20m barrels and is located 140km west of Shetland in the Greater Schiehallion Area. BP and Shell each hold 50% of the development. Meanwhile, Vorlich holds over 30m boe of estimated recoverable reserve
Also in this section
1 August 2025
A number of companies have filed arbitration claims against Gazprom over non-deliveries of contracted gas or other matters—and won. The next step is to collect the award; this is no easy task but it can be done thanks to an international legal framework under the New York Convention.
1 August 2025
Europe’s refining sector is desperately trying to adapt to a shifting global energy landscape and nowhere is this more apparent than in its largest economy
1 August 2025
The Middle East natural gas playbook is being rewritten. The fuel source offers the region a pathway to a cleaner, sustainable and affordable means of local power, to fasttrack economic development and as a lucrative opportunity to better monetise its energy resources.
31 July 2025
TotalEnergies is an outlier among other majors for remaining committed to low-carbon investments while continuing to replenish and expand its ample oil and gas portfolio, with an appetite for high risk/high return projects.
