BP’S GONE COLD ON ALASKA PLAN
The decision to shelve the Liberty development follows an 18-month review by the company
Wednesday July 11,2012
BP HAS suspended a £1billion offshore oil project in Alaska because of cost over-runs and technical problems.
The decision to shelve the Liberty development follows an 18-month review by the company.
BP originally expected production to begin in 2011 but launched its review in 2010 in the wake of the Deepwater Horizon disaster in the Gulf of Mexico.
Liberty was intended to produce 40,000 barrels a day.
The field could be developed in the future but changes would have to be discussed, said BP’s Dawn Patience.