oil field

The oil field, since its production started in 1976, has produced about 2 billion barrels of oil and 5.7 trillion cubic feet of gas, which is equal to over 10% of all oil and gas production in the North Sea, reports The Independent.

The commercially extractable reserves of the field, which is located is 115 miles north-east of Lerwick in the Shetland Islands, have been recovered up to 99.5%, and production has already been stopped at three of its four platforms.

Shell is planning to decommission the platforms in the Brent field, starting with the Brent Delta platform, reports the publication.

Shell Brent decommissioning project director Alistair Hope was quoted by The Independent as saying: "The engineering and planning skills which led to the discovery and subsequent successful production of oil and gas over four decades are essential during decommissioning, which is the natural next stage of the field’s life.

According to a report from Oil & Gas UK, the industry association, the decommissioning project would include 475 installations, pipelines running to 10,000km, 15 onshore terminals and 5,000 wells. This is likely to cost approximately £40bn between 2015 and 2040.

Meanwhile, negotiators from Royal Dutch Shell and United Steelworkers union (USW), which represents workers at US refineries, have met to discuss a new, three-year labor contract following a strike, which has stretched into third day, reports Reuters

The strike has affected nine facilities in the US. These facilities represent 10% of refinery capacity in the US, reports the news agency.

Shell spokesman Ray Fisher told Reuters: "Representatives from Shell and the United Steelworkers union resumed communications on Monday in hopes of coming to a mutually satisfactory contract agreement."

Image: The Brent oil field in North Sea started production in 1976. Photo: courtesy of suwatpo/Freedigitalphotos.net.