Tuesday, 22 May 2018

British Petroleum delays Rhum North Sea work over Iran sanctions clarity

British Petroleum has delayed work on its Rhum field in the North Sea while it seeks clarity over US sanctions on Iran.

The oil giant co-owns the field - about 240 miles north east of Aberdeen - with the Iranian Oil Company, although BP's stake is in the process of being sold to Serica Energy.

A fresh well was due to be drilled but BP has said that work is now on hold.

Both firms said they remained committed to the deal, which is due to be completed in the second half of 2018.

The news came as BP announced plans to cut 3% of its global workforce, meaning more than 500 jobs could go worldwide.
The company said it was restructuring operations to make it more competitive and improve efficiency.

BBC      News.

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