Chevron Gets Approval for Cambo Well Drilling (UK)

Chevron North Sea Ltd, a subsidiary of California-based oil major Chevron Corp. has been given approval to drill the deepwater Cambo-5 well, West of the Shetland Isles, DECC announced today, November 7.

Chevron is to drill the well as substitute operator on behalf of the block licence operator, Hess Limited, and the Cambo co-venturers.

The Cambo-5 well, in Block 204/5a, is 136 kilometres west of the Shetland Isles in a water depth of approximately 1,090 metres.

Energy Minister John Hayes who gave the approval said: “The North and West of Shetland are new frontiers for development in a resurgent UK oil and gas industry. Production from our waters provides nearly half our energy needs, supports hundreds of thousands of jobs and provides billions in revenue so it is vital we thoroughly appraise all new possible resources.

“History has taught us there is no cheap short cut for safety and environmental protection in any oil and gas activity. We have always sought to learn from our experiences and lessons from others. As a result the UK has one of the most robust and best regarded oil and gas regimes in the world.

“Chevron’s plans and their emergency response measures have been thoroughly scrutinised by my Department to make certain their conduct is of the very highest standard.”

DECC has inspected the drillship and, as part of the application review process, met with Chevron to discuss aspects of the proposed drilling operations, including the emergency response procedures that are in place for the proposed offshore operations.

[mappress]
November 7, 2012