BP has confirmed it intends to invest up to $1 billion in a major North Sea life extension project.

The investment will secure the future of its Eastern Trough Area Project (ETAP) until 2030, boosting the life span by at least an additional 15 years, almost double the initial expectancy.

The ETAP area is comprised of nine different reservoirs and is considered one of the largest and most commercially complex North Sea oil and gas developments to date.

Regional president for BP’s North Sea business, Trevor Garlick said: “These are challenging times for the industry and we are having to make hard choices.

“BP’s primary areas of focus are the west of Shetland and central North Sea, where we are investing in both new developments such as Clair Ridge and Quad204, and in extending the life of our mature assets.

“Nonetheless, we remain committed to improving the competitiveness of the North Sea and to maximising economic recovery from our fields.

"Two weeks ago we welcomed the arrival of the Safe Caledonia flotel into the ETAP area, launching the start of a major investment programme to renew the platform and extend its field life.

"In parallel, we are drilling new wells on ETAP's Machar and Marnock fields, replacing subsea infrastructure, and deploying new technologies to help maximise the fields' recovery.

"ETAP holds significant potential and we are working to ensure its reliability, efficiency and long-term competitiveness. This project will secure the future of the field until 2030 and beyond."

ETAP is currently undergoing its largest ever turnaround, totalling 40,000 hours of manpower, a major jump from its traditional 9,000 hours of turnaround.

The project will involve two drilling rigs, the Byford Dolphin and Ensco 101 – working on ETAP simultaneously.

The site will undergo a subsea infrastructure replacement as well as, flare-tip replacement, tie-ins for a third produced water re-injection pump, gas compressor isolation work and nine vessel inspections.

The additional financial investment into the project means living quarters can also increase staffing capacity from 117 to 143.

ETAP to date, has produced over 500 million barrels of oil, since production began in July 1998 the field was originally discovered in 1976, ETAP ranks as one of the largest projects in the past fifteen years.

The whole ETAP area is approximately 35 kilometres wide at its maximum diameter.

ETAP is the second facility to benefit from BP’s North Sea Renewal Programme, the scheme specifically targets ageing assets, such as the Magnus field.

Andy Samuel chief executive of the Oil and Gas Authority (OGA) commented that this was a critical investment for the future of the North Sea - “We very much welcome the significant investment that BP is making to extend the life of the ETAP facility which has been supported by several of the fiscal measures introduced by the Government in recent years.

“We are seeing a real commitment from operators across the UKCS to improve the efficiency and productivity of existing fields, which is essential if the industry is to create a competitive cost base and sustain production.”

The financial move has been a direct result of government tax breaks introduced by George Osborne to aid stimulate the Oil and Gas Industry

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