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Some Production Resumes at North Sea Oseberg Oil Field

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LONDON - The Oseberg oil-field center in the Norwegian North Sea, which closed Monday following the activation of a gas alarm, has resumed partial production.

"Some production has resumed at fields producing over [the] Oseberg [area]," said a spokesman for Statoil ASA, which operates the field, in a message on Tuesday.

The Oseberg field contributes one of the four grades to the BFOE basket of crudes, against which much of the world's oil is priced.

On Monday, Statoil had confirmed that the Oseberg field center was down due to the activation of a gas alarm. It said that it didn'tt know the reason for the alarm, or the likely duration of the outage.

The Oseberg field center consists of three platforms from which both oil and natural gas are extracted.

In July, 135,000 barrels of oil are due to be exported from Oseberg each day. This is lower than the June amount, set to be 160,000 barrels a day, according to loading programs.

July's program comprises seven 600,000-barrel cargoes with a total volume of 4.2 million barrels.

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


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