BP and partners Shell (RDS.A), ConocoPhillips (COP) and Chevron (CVX) plan to proceed with a...

|About: BP p.l.c. (BP)|By:, SA News Editor
BP and partners Shell (RDS.A), ConocoPhillips (COP) and Chevron (CVX) plan to proceed with a two-year appraisal program to evaluate the possibility of developing a third phase of the giant Clair field, west of the Shetland Islands. The group already has committed ~$10B to Clair development so far and plan to spend at least another $500M for the first five appraisal wells.