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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

05/06/2013

 

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