North Sea Story Was Brent field referred for retirement after all this success? # Energy_ Kingdom
The beginning: From the North Sea which is shared by several countries including Britain النرويج, Norway 🇳🇴, Denmark 🇩🇰, Germany 🇩🇪, Netherlands هولندا and contains many fields, whether oil غاز or gas ⛽️. 📍 One of the most important and widespread among these fields is Brent Field 1️⃣
About Brent Field بر Brent Field is 115 miles northeast of the island of Scotland. The field was discovered in 1971 and its life span was estimated to be a quarter of a century at most, but with investments and development of the field, it prolonged its life. It was given this name in relation to the Oz Brent bird. 2️⃣
📍 Beginning production in the field in the second half of the seventies 1976 📍 Beginning of the eighties, its production reached more than 400 thousand barrels of equivalent oil per day, before it peaked at 504 thousand barrels per day in 1982 📍 In the early nineties the field supplied the United Kingdom 13% of its oil needs, and 10 % Of the gas 3️⃣
📍 The field consists of 4 oil platforms Alpha, Bravo, Delta and Charlie Oil Production. ما Brent field production is approximately 4 billion barrels from 154 oil wells. In the year 2001, the development of the Brent field resulted and Shell directed a record gas production of 25.5 million cubic meters per day. 4️⃣
📍 What gave Brent crude this reputation is the use of Brent crude as a standard for pricing two-thirds of global oil production, especially in European and African markets. Brent is considered a light oil due to its specific weight of 38 degrees and a low sulfur content of 0.37%. 5️⃣
Production started to decrease and the cost became higher for its extraction. In 2011, oil drilling operations at the Delta platform stopped, and at the end of 2014 oil production operations on the Alpha and Bravo platforms stopped, while Shell intends to shut down the Charlie platform in the coming years. 6️⃣
Brent will be referred as a retirement field, but not as a market pricing mix. يرجع This is due to an amendment made by Platts from the Norwegian Raw (Troll) to the four existing British BFOEs: Brent, Osberg, Fortis and Wakofisk. Which will ensure its continued role as an important benchmark for the oil market. 7️⃣