UK: BP, Partners Approve Major Re-Development of Schiehallion and Loyal Oil Fields

On behalf of its co-venturers BP announced an agreement to progress a major re-development of the Schiehallion and Loyal oil fields to the west of the Shetland Islands. Schiehallion and Loyal have produced nearly 400 million barrels of oil since production started in 1998 and an estimated 450 million barrels of resource is still available. [...]