New Outage Hits Buzzard Oil Field

LONDON - The Buzzard oil field, one of the largest and most important oil fields in the North Sea, was again hit by an outage Thursday, traders said Friday. 

The field was shut last weekend due to equipment failure, and resumed production on Tuesday. But traders said it had shut down again Thursday night and was due to begin producing again Friday. 

Nexen, a unit of Chinese state-owned energy company CNOOC Ltd., which operates the field, didn't immediately respond to requests for comment. 

Buzzard, situated 100 kilometers north-east of Aberdeen, generated around 160,000 barrels a day of oil equivalent 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.

Copyright (c) 2012 Dow Jones & Company, Inc.


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