Wednesday 16 January 2013

Oil & Gas UK Comment on Cormorant Alpha Shutdown

Mike Tholen, Oil & Gas UK’s economics director, said: “We estimate that oil usually produced from the fields that are currently shut down across the Brent Pipeline System accounts for about ten per cent of UK oil production. We have offered support to TAQA Bratani during the incident and await more information on how long the shutdown is likely to last.”

Ends

Notes to Editors

  • Cormorant Alpha handles approximately 90,000 barrels per day of crude oil.
  • UK oil production is approximately 1 million barrels per day.
  • At a price of $110/barrel, the lost production is worth approximately $10 million per day.
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