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Support for Bentley heavy oil plan
 Xcite Energy reported today that it has received a “letter of support” for its field development plan for the North Sea Bentley heavy oil field from the UK government.
Xcite (XER) says the letter from DECC is a “letter of comfort” and broadly satisfies the phased development approach in the field development plan (FDP) required from a resources recovery perspective.
“This now leaves the formal approval of the FDP subject to funding and any amendments to the FDP that may be proposed by XER following the results of Phase 1A, with the re-submission of the FDP expected in the latter half of 2012,” Xcite reported today.
Updating progress on project approval process, Xcite says DECC indicates that broad operational and planning questions over phases IA and 1B of the FDP have been answered.
“A number of detailed questions on technical matters are currently being resolved and it is XER's expectation that this will be completed as a matter of due process,” Xcite has signalled..
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Aker group grows value Norwegian industrial group Aker ASA says it value rose 16% in the first quarter to NOK 22.5 billion (US $3.74 bn) as its investments – mainly in oil and gas operations rose in value.
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