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BP Acquire Interests in the Jock Scott & Craster North Sea Exploration Prospects

Source: www.gulfoilandgas.com 11/28/2016, Location: Europe

BP announced today that it has acquired interests in two North Sea exploration prospects, Jock Scott and Craster, in a further demonstration of the organisation’s commitment to the basin.

BP has acquired a 25% interest in the Statoil-operated licenses located to the east of Shetland, P2275 and P2097, which includes the Jock Scott prospect, and a 40% interest in the nearby P2163 and P2147 licenses. Statoil will remain the operator for all of these licenses.

Statoil and BP are planning to drill an exploration well on Jock Scott in mid-2017.

In the west of Shetland, BP has acquired a 40% interest in the north and a 30% interest in the south of the Nexen-operated licence P2062, which includes the Craster prospect. Nexen will remain the operator of the licence.

BP and Nexen are also planning to drill an exploration well on Craster in mid-2017.

Mark Thomas, BP North Sea Regional President commented: “Working together with companies such as Statoil and Nexen to access the North Sea’s remaining resource is an important part of our strategy to remain a material North Sea producer, investor and employer for decades to come. We look forward to working with both Statoil and Nexen on these exciting prospects.”

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Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Insurance  Investment  Mergers and Acquisitions  Risk Management 


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