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Buzzard field resumes production

BY CASSIE WERBER

LONDON -- The Buzzard oil field, one of the largest and most important oil fields in the North Sea, has resumed production after an outage over the weekend.

A spokeswoman for Nexen, a unit of Chinese state-owned energy company CNOOC, which operates the field, said in an email Tuesday: "Buzzard production recommenced last night. We expect production to return to normal levels by mid-week."
Production over the weekend was intermittent due to equipment failure.

One oil trader said that the brief outage had little effect on the markets, though the Forties grade of crude oil may have gained a modicum of price strength.

Buzzard, situated 100 km north-east Aberdeen, generated around 160,000 boed last year.

A prolonged closure of the field in 2012 had major consequences for the U.K., helping to tip it back into recession in the final three months of the year.

Dow Jones Newswires

06/04/2013

 

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