EnergyWatch

BP buys into British licenses with Statoil

Statoil and BP plan to find oil and gas together in new fields East of the Shetland Islands.

Photo: BP/PR

While focus has mostly been on the promising oil and gas fields West of the Shetland Islands, Norwegian Statoil and the British BP have now zoomed in on potential fields, this time East of the Shetland Islands.

That is to say that BP is buying into the licenses already held by Statoil in the region. This will be with an owner's share of 25 percent in the licenses P2275 and P2097, and a 40 percent stake in P2163 and P2147. The fields include the Jock Scott area, not yet fully developed, where a test drilling is expected to take place in the middle of 2017.

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