Nexen: Production ramping up on Buzzard oil field
BY JENNY GROSS
LONDON -- The operator of the United Kingdom' s Buzzard oil field said that production from the field resumed during the last 24 hours and would be ramping up within the next two days.
Nexen, a unit of CNOOC, wouldn' t comment on when Buzzard would reach full capacity. Production was impacted recently after a steam release triggered an alarm.
A London based trader said the outage had caused the front-month price of Brent to steepen relative to later months.
Nexen is the second largest oil producer in the United Kingdom’s North Sea, according to the company' s website. In 2012, Buzzard generated 160,000 boepd.
Dow Jones Newswires