Shutdown at North Sea Buzzard Oilfield Likely to be Moved to November
LONDON, Sept 23 (Reuters) – A planned shutdown of Britain's North Sea Buzzard oilfield is likely to be rescheduled to November from October, an industry source said, which would boost next month's supply of the crude that helps underpin the Brent benchmark.
Buzzard's output is closely watched by traders as the field is the biggest contributor to the Forties oil stream, the largest of the four North Sea crudes used in the global Brent oil benchmark.
The exact details of the rescheduling have yet to be confirmed, said the source, who gave no reason for the likely change of date.
Buzzard is operated by Nexen, a unit of Chinese state company CNOOC. Other field partners are Suncor Energy Inc and Britain's BG Group, which is being bought by Royal Dutch Shell.
Nexen, asked if the maintenance was still planned in October, had no immediate comment on Wednesday.
Buzzard pumps less than 0.2 percent of daily world oil supply but because it is the largest field contributing to Forties the field has a bigger impact on pricing than its size would otherwise justify.
The field had suffered from frequent unplanned shutdowns, leading to volatility in prices, but this year it has operated more reliably and average output has risen to about 168,000 barrels per day (bpd) as of early September.
(Reporting by Alex Lawler; Editing by Susan Fenton)
WHAT DO YOU THINK?
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.
Operates 1 Offshore Rigs
- Alberta Regulators Charge Nexen Energy Over 2015 Pipeline Spill (Jul 06)
- Cenovus Drops Most Ever as $13.3 Billion Deal Ramps Up Risks (Mar 30)
- UKCS Oil, Gas Extraction Drops 10% (Dec 08)
Company: BG Group more info
- Shell Mulls LNG-Hub Network as Use by Ships and Trucks Expands (Jul 11)
- Tanzania Laws Would Allow Govt to Tear Up Mining, Energy Deals (Jun 29)
- Despite Cuts, Big Oil to Expand Production into the 2020s (Sep 05)
Company: CNOOC more info
- Oil's Heavy Hitters Line Up to Dive Into Mexico's Deep Waters (Jan 26)
- Iceland's Oil Dream in Peril as China, Norway Give Up Last Block (Jan 23)
- ExxonMobil Reports More Offshore Guyana Success (Jan 05)
Company: Suncor Energy more info
- Suncor Going Autonomous in Oil Sands (Feb 01)
- Suncor Says Makes Progress In Oil Sands Project Dispute With Total (Oct 26)
- Canadian Oil's High-Priced Run Set to End as Supply Surges (Oct 11)