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U.K. Energy Minister approves EnCana''s Buzzard field development plan.

Publication: PR Newswire
Publication Date: 27-NOV-03 		Format: Online
Delivery: Immediate Online Access

Article Excerpt
UXBRIDGE, United Kingdom, November 27 /PRNewswire/ -- The U.K. Department of Trade and Industry has granted EnCana (U.K.) Limited and its co-venturers approval to develop the Buzzard oil field - the largest field to be discovered in the North Sea in the past decade.

Stephen Timms, U.K. Minister of Energy stated "I am delighted to give this development the go-ahead. Buzzard was the discovery that defied the sceptics, and has proved that the U.K. Continental Shelf is still a vibrant and rewarding area for companies who are prepared to match their skills and innovation with their convictions."

Gwyn Morgan, EnCana's President & Chief Executive Officer said "This is a major step forward in the expansion of one of our key international regions. First oil is planned for late 2006 and Buzzard is expected to add about 80,000 barrels of oil per day to EnCana's production once the field reaches plateau level."

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. The pnds stlg 1.35 billion (US$2 billion) Buzzard development will consist of three bridge-linked steel platforms supporting...

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