* The Buzzard field, the largest contributor to the Forties stream, has returned to normal production levels, according to operator Nexen Petroleum UK Ltd. A technical glitch last week knocked production back to around 160,000 barrels per day, from closer to 180,000 bpd.
The package of assets consists of Shell’s interests in Buzzard, Beryl, Bressay, Elgin-Franklin, J-Block, the Greater Armada cluster, Everest, Lomond and Erskine, plus a 10% stake in Schiehallion.
Buzzard (21.73%), Beryl (39.4%), Bressay (18.4%), Elgin-Franklin (14.1%), J-Block (30.5%), the Greater Armada cluster excluding Gaulpe (76.4%), Everest (100%), Lomond (100%), Erskine (32%) and Schiehallion (10%). Shell is the operator of Armada, Everest and Lomond – upon completion of the sale, Chrysaor will assume operatorship of those assets.
With the exception of Schiehallion, in which Shell will retain a 45% stake, the percentages listed represent Shell’s total interest in each of the assets.
Trading sources said two February-loading Forties cargoes, parcels F0212, currently with BP, and F0218, currently with Shell, have been deferred to March, meaning next month’s daily supply will amount to around 429,000 barrels per day, compared with an originally planned rate of around 471,000 bpd.
Output at the UK’s Buzzard oilfield has fallen by around 20,000-30,000 barrels per day after a technical glitch. The field is the main contributor to the Forties grade.