BP has underlined its commitment to the UK North Sea after getting the green light from the Oil and Gas Authority for a £200 million field development.
The regulator reckons the Vorlich development 140 miles east of Aberdeen could make an important contribution to its drive to maximise the recovery of the North Sea’s reserves.
Industry leaders said approval for Vorlich will bolster confidence among oil and gas firms in the North Sea as the area emerges from the slump that was triggered by the sharp fall in the crude price between 2014 and 2016.
Source: The Herald
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