BP, on behalf of co-venturers Shell, Chevron and Conoco Phillips, announced first oil production from the giant Clair Ridge project in the West of Shetland region offshore UK. Clair Ridge is the second phase of development of the Clair field, 75 kilometres West of Shetland. The field, which was discovered in 1977, has an estimated seven billion barrels of hydrocarbons.
The National Oil Corporation, BP and Eni have signed an agreement according to which Eni will resume exploration work in Libya. The exploration and production sharing agreement operations have remained suspended since 2014 in the region.
BP announced the investment in Store Dot's ultra-fast charging battery for electric vehicles. Using this technology, the company is also developing a new type of electric-car battery that will aim to achieve a charging speed similar to the time required to refuel a traditional car.
Post a final investment decision in the second phase of the Khazzan field in Oman, BP will start development of the Ghazeer project. Once complete, both the developments are expected to produce 10.5 trillion cubic feet of gas and around 350 million barrels of condensate.