BP’s Liberty project, estimated to cost more than $1 billion, will tap into a new 100-million-barrel reservoir. The project will set standards for Arctic oilfield development while minimizing the onshore and offshore environmental footprint. The Liberty field is located in shallow water (20 feet) inside the Beaufort Sea’s barrier islands. The project will take advantage of existing infrastructure in the BP operated Endicott oil field, which has been producing oil since 1987.
BP Plc, the largest producer of oil and natural gas in the U.S., suspended construction of a drilling rig at its Liberty project in Alaska to “take time to evaluate the safety systems” on the rig, Steve Rinehart, a company spokesman, said in a telephone interview......The decision to halt construction of the drilling rig was made after “a number of engineering and design issues arose,” during construction, which began after parts of the rig reached Alaska’s North Slope in the late summer of 2009, Rinehart said. He declined to provide further details.