First Oil Delivered in 2014

The Nexen-operated Golden Eagle project produced first oil on October 30, 2014. This major milestone was accomplished under budget, ahead of schedule, and with a world-class safety record. Upon completion, the project had expended 17.9 million hours worked with only three minor lost-time injuries.

Located 70 km northeast of Aberdeen, Golden Eagle is the second largest oil discovery in the UK North Sea since Buzzard was discovered in 2001.

We’re planning for a long, successful and safe operating life at Golden Eagle, which is also expected to act as a future hub for tieback opportunities. A good example of this hub strategy at work is the Solitaire field, which was discovered in 2001 and acquired by Nexen and our Golden Eagle co-venture participants in 2010. Located four km northeast of Golden Eagle, Solitaire was a stranded discovery and not large enough to be developed on its own. By creating a tieback to Golden Eagle infrastructure, Solitaire came on stream with first production in December 2015.

Nexen Petroleum U.K. Limited, a wholly-owned subsidiary of CNOOC Limited, is the operating partner of Golden Eagle (36.54%), with Suncor Energy UK Ltd. (26.69%), Maersk Oil North Sea Ltd. (31.56%) and Dyas EOG Limited (4.74%) and Oranje-Nassau Energy Petroleum Limited (0.46%) also holding interests in the field and its facilities.