The 150,000 barrel-per-day Buzzard oil field in the British North Sea has restarted, its operator Nexen—a subsidiary of China’s CNOOC—said in a statement on Oct. 25, after pipework at the field had interrupted output since Oct. 16.
In addition, the field had been shut earlier this month for about 10 days for repairs.
Buzzard plays a role in global oil pricing as it is the main contributor to the Forties crude stream, the largest of the five North Sea oil grades that underpin the Brent crude oil futures benchmark.
Major oilfield service companies agree that the Middle Eastern region will be less severely impacted by the downturn compared to other regions.
Remote technologies are enabling oil and gas companies to operate safely and efficiently.
A study looks at the impact of DUCs and shut-in wells on future rates of production.