Buzzard oil field is the largest oil field discovered in the North Sea in the past decade. The Buzzard field is operated by Nexen with 43 percent interest. The other co-venturers are PetroCanada, 30 percent; BG Group, 22 percent and Edinburgh Oil and Gas plc, 5 percent (interests rounded to nearest percentage). The co-venturers have signed an area operating agreement which permanently fixes the equity in the licences covering the Buzzard field – P928(S) and P986. Buzzard’s total recoverable reserves are estimated at more than 400 million barrels of oil and gross production is expected to reach a plateau of 180,000 to 190,000 barrels of oil per day in 2007. First oil production from the field is expected in late 2006.
Buzzard, North Sea, Nexen, Europe(North),