First oil from Buzzard field in UK North Sea

abarrelfullabarrelfull wrote on 17 May 2012 12:06

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8 January 2007

Oil production from the Buzzard field in the UK North Sea began on Sunday 7th January 2007, BG Group and its co-venturers announced today.

Buzzard is one of the largest field developments in the UK North Sea in more than a decade. With estimated recoverable reserves of over 500 million barrels of oil equivalent (mmboe) it has the potential to deliver approximately 10% of the UK’s annual forecast oil demand at peak rates.

The field is operated by Nexen Petroleum U.K. Limited and is located 100 kilometres northeast of Aberdeen in the Outer Moray Firth, Central North Sea. BG Group holds a 21.73% interest in the field which has cost a total of £1.5 billion to develop. Peak production - expected this year – is forecast to be around 200,000 barrels of oil per day and 60 million standard cubic feet of gas per day.

Mark Carne, BG Executive Vice President for Europe and Central Asia said:

"I am delighted to announce the delivery of first oil from the Buzzard field only three years after development approval from the Government. BG drilled the discovery well in May 2001 and has been involved throughout the development of this major North Sea find.

"BG is a long-established investor and operator in the North Sea and we remain committed to investing the resources and expertise required to maximise production from the UK’s natural resources."

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