Nexen: Production ramping up on Buzzard oil field

5/6/2013

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

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