BP has the Magnus field capped off. It is the largest field in the North Sea & stretches across, deep under the Arctic Ocean.
I know this because my husband brought the drill bit home, the one that struck through the rock cap when he worked on the wild cat rig, the Sea Conquest, back in 1980.
They have never disclosed the sheer magnitude of that field & they certainly have not produced from it yet.
Just before the Falklands War the same rig struck a huge field in the Antarctic named the Sea Lion because of it's vastness. Maggie took us to war with Argentina to protect that oil field & claim it as British.
That too lies untapped as yet.
The Sea Conquest has been passed from company to company & now is renamed the SEDCO 704.
A new subsidiary of BP, disguised under the name of the Falklands Oil & Gas Company, was quietly drilling away in the Antarctic during recent years to find the Sea Lion field "sweet spot".
Meanwhile, a new floating dock has quietly been delivered to the South Georgia Island in preparation for the day that they start bringing that oil online. It is rumoured to be the largest floating dock in the world.
Why all the secrecy?
Well, BP lies.... ALL THE TIME. It prefers to perpetrate the myth that British oil reserves are depleting fast.
BP intends that the world should use up every drop of oil elsewhere leaving BP with a monopoly that will be worth BILLIONS.
It cannot drill under the name of BP in the contentious waters off Argentina because the UN resolution that terminated the Falklands War bears a clause which prevents British exploitation of the discovery.
Sneakily hiding their actions by creating the Falklands own oil company & then converting that to Premier Oil neatly side steps that clause. Re-branding is a useful tool for terrorists, even oil rich ones.
However, there is much going on behind the scenes as the juggling continues.... (https://www.ft.com/content/f7b542ea-eac5-11e6-930f-061b01e23655)
(Image: the SEDCO oil rig, formerly known as the Sea Conquest)
