LONDON, May 16 (Reuters) - New oil projects in the North Sea aim to add 1.2 million barrels per day (bpd) of new capacity, a level that will more than offset declining output from old fields, Reuters research shows.
North Sea output now stands at 2 million bpd. Taking into account declining production from older fields, the net increase in overall output is expected to be 400,000 bpd in the next two years, according to investment bank Tudor, Pickering, Holt & Co.
Below is a table of the major oil projects that are due to come onstream between 2017 and 2019:
Field
Major Operator/s Target
Startup
capacity
date
(bpd)
Johan Sverdrup Statoil/Lundin/A
440,000
2019*
ker BP (LON:BP)
Quad 204
BP
130,000
Q2 2017 Edvard Grieg
Statoil/Lundin
126,000
H2 2016 Clair Ridge
BP
100,000
2018 Martin Linge
Total/Statoil
80,000
late 2017 Gina Krog
Statoil (OL:STL)
60,000
Q2 2017 Mariner
Siccar
55,000
2018
Point/Statoil
Catcher
Premier Oil
50,000
mid-2017 Ivar Aasen
Aker BP
50,000
late 2016 Kraken
Enquest
50,000
Q2 2017 Western Isles
Dana
40,000
2017
Petroleum/Cieco
Greater Stella Ithaca Energy
30,000***
H1 2017 Solan
Premier Oil
30,000
2018 Cheviot
Alpha Petroleum
30,000
2019 Maria
Wintershall/Peto
--
H1 2018
ro
TOTAL
1,241,000
*Phase 1 of Johan Sverdrup. Phase 2 2022 w target of 660,000 bpd **Phase 1 of Greater Stella