Nexen lifts reserves at Buzzard, Scott

Nexen proved 22 MMboe of additional reserves last year in the Buzzard field in the UK central North Sea.

Offshore staff

CALGARY, Canada -- Nexen proved 22 MMboe of additional reserves last year in the Buzzard field in the UK central North Sea. The company says strong drilling and production performance led to increases in both reservoir size and the field’s recovery factor.

Late last year, Nexen filed a field development plan for a proposed new hub for its discoveries in the Golden Eagle area, as well as acquiring further acreage on trend to the north. The plan calls for standalone facilities handling 70,000 boe/d. Nexen anticipates sanction for the development later this year.

At the Scott/Telford complex, again in the central sector, Nexen spent $150 million on further development last year, adding 6 MMboe of proved reserves from development drilling. The company sees further upside in the area with opportunities for speedy tiebacks.

Rochelle is one of the candidates for a tieback to the Scott platform.

In the UK’s recent 26th offshore licensing round, Nexen applied successfully for 10 licenses covering 18 blocks in the North Sea. Most are close to the company’s existing acreage and infrastructure.

02/17/2011

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