BP To Restart North Sea Gas Field Half-Owned By Iran

BP will restart the Rhum gas field in the UK North Sea, half-owned by Iran’s National Oil Company, four years after the field was shut down due to Western sanctions, a BP spokesman said on Friday.

Production from the field, which supplied 4 percent to 5 percent of Britain’s demand before its shutdown, is expected to begin this weekend.

BP received approval from the British government to resume production after the government put the field under a temporary management scheme whereby all revenue due to Tehran will be held until sanctions are lifted, the spokesman said.

The field started pumping gas in December 2005 and cost 350 million pounds ($565.6 million) to build.

The British government gave the green light for the resumption late last year in order to avoid damage to the high pressure, high temperature gas field.

4 Comments on "BP To Restart North Sea Gas Field Half-Owned By Iran"

Feemer on Fri, 17th Oct 2014 1:50 pm 



Hopefully they use that gas to transition to renewable energy! Probably not though…

rockman on Fri, 17th Oct 2014 2:23 pm 



It’s going to be interesting to see if Iran goes to the World Court over this. One thing to shut them down as a sanction. A very different matter to sell their asset and keep the money even temporarily.

Makati1 on Fri, 17th Oct 2014 8:05 pm 



rockman, I see that happening and soon. Theft is theft, even if the US does it all the time. The future gets more and more interesting, and dangerous.

Makati1 on Sat, 18th Oct 2014 9:14 pm 



Speaking of plunder and theft:

‘The Looting of Ukraine and the US Energy War”

““The purpose of the coup is to put NATO military bases on Ukraine’s border with Russia and to impose an IMF austerity program that serves as cover for Western financial interests to loot the country. The sincere idealistic protesters who took to the streets without being paid were the gullible dupes of the plot to destroy their country.”

http://www.globalresearch.ca/the-looting-of-ukraine-and-the-us-energy-war/5408626

And the killing goes on so you can drive to Walmart.