Offshore News: Petro-Canada targets 85,000 boe/d
Posted on 23.06.2007 - 17:10 EDT in OFFSHORE NEWS by ginamc
Petro-Canada is targeting 85,000 boe/d of production from the North Sea before the year end, almost double current output.
The extra production will come from the UK sector Buzzard field ramping up to full production and the Dutch sector De Ruyter field also hitting peak output.
Peter Kallos the company’s Executive Vice President for International and Offshore, said the Buzzard field is the company’s largest contributor to production, growth and profitability in the North Sea.
"This is a world class project and has an estimated life-of-field production of 550m boe.
We achieved first oil in January and production is ramping up steadily to 200,000 b/d full capacity. Seven wells are currently producing and we are on track to hit peak production in mid-2007," he said.
The company is targeting growth around its core areas at Triton, Buzzard and Scott in the UK sector of the North Sea.