A power outage on the North Sea’s largest oil field yesterday was so significant it was blamed for driving up the global price of Brent crude.
The Buzzard oilfield is the single biggest contributor to the Forties crude stream, which is one of four pipeline crudes that underpin the global benchmark.
Buzzard output has been estimated to account for up to 18% of North Sea production.
Last night the platform’s operator Nexen refused to comment on the situation – or the effect on estimated 85 employees and contractors out on the rig 62 miles north-east of Aberdeen.
In a statement, a spokeswoman said: “Nexen does not publish production or maintenance operations information on an individual asset basis.”
Nexen, which was the sixth largest producer of oil on the UKCS last year, was taken over by the China National Offshore Oil Corporation (Cnooc) in 2013 after the state-contolled oil giant bought the company from its Canadian owners in a £9.6billion deal.
The platform, which only started production in 2007, has previously been affected by outages.
Last year, closures affecting the Buzzard field in August hit UK production and exports “over and above” the general decline in North Sea production in recent years, according to the Department of Energy and Climate Change (Decc).
A report on the platform has claimed that it faces issues with its supply of fuel to keep it powered. “It is likely that the platform will become gas deficient for power generation in the next five to seven years and will then need to import gas”, according to Offshore.technology.com.
A spokesman for BG Group, which retains a 21.7% stake in Buzzard last night said he was “not aware of a shutdown”.
Unions speculated that the rig might face having to be evacuated if the power outage affects safety.
Jake Molloy, the regional organiser for the National Union of Rail, Maritime and Transport Workers (RMT), also said he was not aware of the power outage.
He said:“If they cannot get power established or emergency power is unavailable then they will likely be forced to do a precautionary down man.”
The outage was initially reported by oil traders, who told Reuters that the important platform in the Outer Moray Firth was not producing oil.
It normally pumps 170,000 to 180,000 barrels per day but went down in the early hours of Thursday, the unnamed traders said.
“There was a trip last night,” one market participant told Reuters. “But it should come back online sometime today or tomorrow.”
“We are hearing they have some power outages, which might be resolved this afternoon,” another trader said.
Brent crude was up 70 cents at $57.70 a barrel last night.
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