trending Market Intelligence /marketintelligence/en/news-insights/trending/8ffRgpxWCimxE8yiaGHJaA2 content esgSubNav
Log in to other products

 /


Looking for more?

Contact Us
In This List

Report: Total to start up Culzean field in UK North Sea within days

Blog

Global M&A Infographic Q1 2021

Blog

Q1 2021 Global Capital Markets Activity: SPAC IPOs, Issuance in Consumer Discretionary Sector Surge

Blog

COVID-19 Impact & Recovery: Private Equity

Blog

Utility sector progressing on gender diversity, but experts say more work needed


Report: Total to start up Culzean field in UK North Sea within days

French oil major TOTAL SA will start up the Culzean field in the British North Sea within days, Reuters reported June 4, citing comments made by Total E&P UK Ltd.'s managing director Jean-Luc Guiziou.

"Culzean is going to be delivered in a few days' time, ahead of schedule, under budget," Guiziou said during an oil and gas conference held in Aberdeen attended by Reuters.

According to estimates from Total, which operates Culzean, the field will have a production capacity of 100,000 barrels per day and is said to contain 250 million to 300 million barrels of oil equivalent. It will also provide 5% of the U.K.'s gas demand.

Total owns a 49.99% stake in the field. The rest is owned by fellow oil major BP PLC and Japan's JX Nippon Oil & Gas Exploration Corp. which hold 32% and 18% stakes, respectively. Total acquired the field following its acquisition of Maersk Oil in March 2018.