Five questions answered on BP’s £330m Atlantic offshore oil investment

Appraisal drilling.

BP, along with a consortium of other oil and gas companies, announced today it will invest £330m in appraisal drilling in the Atlantic Ocean.

How many appraisal wells will they be drilling?

They will be drilling five appraisal wells over the next two years in the Clair field, located in the Atlantic Ocean, west of Shetland.

The field was originally discovered 35 years ago but initial drilling didn’t start until 2005.

Who are the other members of the consortium?

The consortium is made up of BP Shell, ConocoPhillips and Chevron.

Why have the consortium chosen now to expand drilling in the field?

Clair is expected to hold eight billion barrels of oil, but up until now it has been technically difficult to drill. The government’s new oil and gas strategy, which was unveiled recently, may also have encouraged further production.

The strategy includes the government working with the industry to tackle a looming skills shortage, partly by re-training military leavers to fill some of the 15,000 new jobs anticipated to be created in the oil and gas sector over the next five years. The government will also encourage more technological advancement through research and development, as well as commitment to a new £7m Neptune offshore technology centre of excellence in Newcastle.

What are the consortium’s future plans for the Clair field?

Depending on these initial drilling results up to 12 further wells could be drilled.

It is hoped the appraisal programme will lead to a third phase, taking production well beyond 2050. Any new oil would continue to be pumped by pipeline to Shetland.

Analysts are predicting that the Atlantic could over take the North Sea as the UK's biggest oil-producing region within 20 years.

What has the Energy and Climate Change Secretary Ed Davey said about this latest development in the Atlantic?

Davey said in a press release:

“This announcement by BP of a two year appraisal programme for the Greater Clair area West of Shetland is excellent news. It shows the industry’s commitment to maximise the potential in this area, which could hold up to 17 per cent of our oil and gas reserves. 

“Greater Clair proves there is still a long future for oil and gas production in the North Sea and will give confidence to new recruits that the industry offers a career for life.”

Photograph: Getty Images

Heidi Vella is a features writer for Nridigital.com

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Donald Trump vs Barack Obama: How the inauguration speeches compared

We compared the two presidents on trade, foreign affairs and climate change – so you (really, really) don't have to.

After watching Donald Trump's inaugural address, what better way to get rid of the last few dregs of hope than by comparing what he said with Barack Obama's address from 2009? 

Both thanked the previous President, with Trump calling the Obamas "magnificent", and pledged to reform Washington, but the comparison ended there. 

Here is what each of them said: 

On American jobs

Obama:

The state of our economy calls for action, bold and swift.  And we will act, not only to create new jobs, but to lay a new foundation for growth.  We will build the roads and bridges, the electric grids and digital lines that feed our commerce and bind us together.  We'll restore science to its rightful place, and wield technology's wonders to raise health care's quality and lower its cost.  We will harness the sun and the winds and the soil to fuel our cars and run our factories.  And we will transform our schools and colleges and universities to meet the demands of a new age.

Trump:

For many decades we've enriched foreign industry at the expense of American industry, subsidized the armies of other countries while allowing for the very sad depletion of our military.

One by one, the factories shuttered and left our shores with not even a thought about the millions and millions of American workers that were left behind.

Obama had a plan for growth. Trump just blames the rest of the world...

On global warming

Obama:

With old friends and former foes, we'll work tirelessly to lessen the nuclear threat, and roll back the specter of a warming planet.

Trump:

On the Middle East:

Obama:

To the Muslim world, we seek a new way forward, based on mutual interest and mutual respect. To those leaders around the globe who seek to sow conflict, or blame their society's ills on the West, know that your people will judge you on what you can build, not what you destroy. 

Trump:

We will re-enforce old alliances and form new ones and unite the civilized world against radical Islamic terrorism, which we will eradicate completely from the face of the earth.

On “greatness”

Obama:

In reaffirming the greatness of our nation we understand that greatness is never a given. It must be earned.

Trump:

America will start winning again, winning like never before.

 

On trade

Obama:

This is the journey we continue today.  We remain the most prosperous, powerful nation on Earth.  Our workers are no less productive than when this crisis began.  Our minds are no less inventive, our goods and services no less needed than they were last week, or last month, or last year.  Our capacity remains undiminished.  

Trump:

We must protect our borders from the ravages of other countries making our product, stealing our companies and destroying our jobs.

Protection will lead to great prosperity and strength. I will fight for you with every breath in my body, and I will never ever let you down.

Stephanie Boland is digital assistant at the New Statesman. She tweets at @stephanieboland