This time-lapse video shows how the construction of the Golden Eagle development is proceeding.
Watch an animation of operations above and below sea level in one part of our award-winning Golden Eagle progress video.
Construction Underway; First Oil Expected in 2014
The Golden Eagle development, a £2 billion (C$3.3 billion) investment (£750 million or C$1.2 billion net to Nexen), is expected to produce an estimated 140 million barrels of oil equivalent (gross) of proved and probable reserves over an 18-year period. Golden Eagle is located 70 km northeast of Aberdeen.
First oil production is forecast for late 2014 and the development is expected to have an initial gross production rate of up to 70,000 barrels of oil equivalent per day (boe/d) (about 26,000 boe/d net to Nexen).
In June 2013 a major milestone was achieved with the installation of the wellhead jacket. As of July 2013, the project remains on schedule, within budget and has completed 10 million people hours lost-time incident free.
The facilities being built at Golden Eagle can act as a future hub for tiebacks. For example, in 2013 Nexen received regulatory approval to develop the Solitaire Field, which is located about four kilometres northeast of Golden Eagle. Solitaire is expected to produce eight million barrels of oil that will be processed at Golden Eagle. Solitaire will be connected to the Golden Eagle manifold with facilities installation expected to begin in mid-2014. First oil production is expected in 2015.
We hold significant acreage around the Golden Eagle development that we’ll continue to assess with ongoing exploration drilling.
Nexen Petroleum U.K. Ltd. is the operator of both Solitaire and Golden Eagle with a 36.54% working interest in each development. The remaining interests in both developments are held by Maersk Oil North Sea UK Ltd. (31.56%), Suncor Energy UK Ltd. (26.69%) and Edinburgh Oil and Gas Ltd. (5.21%).