Suncor Energy News

Photo: ExxonMobil Canada

ExxonMobil's Canada Offshore Project Produces First Oil

as low as $26.   The platform holds living quarters, drilling and production facilities and storage capacity for 1.2 million barrels of oil.   It is operated by Exxon's ExxonMobil Canada Properties, which holds a 35.5 percent stake. Other joint venture partners are Chevron Canada Ltd, Suncor Energy, Statoil ASA and Nalcor Energy, the Newfoundland and Labrador provincial energy corporation. (Reporting by Nia Williams; Editing by Susan Thomas

Buzzard Platform in the UK North Sea (Photo: Nexen Energy)

UK's Buzzard Oilfield Pumping More in 2016

the Brent benchmark.   Unplanned shutdowns at the British field can boost Brent prices and lead to higher premiums of Brent futures for immediate delivery - leading to price volatility.   Buzzard is operated by Nexen, a unit of Chinese state company CNOOC. Other field partners are Suncor Energy Inc and Royal Dutch Shell following its purchase of BG Group.   Last year, Buzzard's production averaged 163,000 barrels per day (bpd) according to UK government data. So far this year, the average has risen to about 173,000 bpd, even though output has slowed in June because of a Forties

Planned Hebron GBS Platform: Image credit Statoil

Statoil in New Field Development Offshore Canada

and SDL 1010). Capital cost for the project is estimated at USD14 billion. Production is expected to start late 2017. The Hebron GBS is planned to have a lifetime of 40 years. The Hebron Project co-venturers are: ExxonMobil Canada Properties (operator, 36%), Chevron Canada Resources (26.6%), Suncor Energy Inc. (22.7%), Statoil Canada (9.7%) and Nalcor Energy Oil and Gas (4.9%). Offshore Newfoundland, Statoil is the operator of four Significant Discovery Licenses (SDLs) and holds a significant exploration portfolio with four planned exploration wells in 2012-13. Statoil is a partner in three

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