Nexen Temporarily Shuts Down Buzzard

Nexen says that routine inspections on the Buzzard platform following storms in the North Sea revealed that the upper section of one of the three power generation turbine exhaust stacks was damaged. As a precautionary measure, the platform has been temporarily shutdown and we have reduced platform staffing levels.

A full inspection of the damage will take place as soon as the weather situation improves, at which time a decision will be made as to when production operations can safely resume. We do not expect production to be down for an extended period of time since we are able to operate the platform at full rates with two turbines.

Nexen has a 43.2% operated working interest in Buzzard. Other co-venturers include Petro-Canada (29.9%), BG Group (21.7%) and Edinburgh Oil and Gas Limited (5.2%).