The United Kingdom (U.K.) offshore is a strategic part of Suncor Energy’s business. The U.K. team is focused on maintaining and growing a sustainable business including production, development and exploration. We firmly believe there is more value to be found across the North Sea basin and are committed to growing the business.
The Buzzard field
Our portfolio focuses on developing large low-cost resources. In the Central North Sea, we hold a 29.9% interest in the Buzzard field. Buzzard, is the largest oil field discovered in the UK North Sea in the past 15 years.
Buzzard came on-stream in early 2007 and delivers more than 50,000 high-margin, low-cost barrels per day to Suncor.
The Golden Eagle Area
The Central North Sea also comprises a number of growth opportunities, including the Golden Eagle Area Development (GEAD). Suncor holds a 26.69% working interest in this area. GEAD achieved first oil in late 2014 and is expected to contribute 17,000 high-margin, low-cost barrels per day to Suncor.
Click the image below to see a larger view of the Golden Eagle Area Development.
The Rosebank Project
Suncor has acquired a 30% participating interest in Rosebank, a U.K. North Sea pre-sanction project, operated by Chevron.
The Rosebank project is located approximately 80 miles (130 kilometres) northwest of the Shetland Islands in water depths of approximately 3,600 feet (1,110 metres). It was discovered in December 2004 and is considered one of the best and largest remaining undeveloped resources in the U.K. North Sea.
The project is currently in the Front End Engineering and Design (FEED) phase and has a design capacity of 100,000 barrels of crude oil and 80 million cubic feet of natural gas per day.
Rosebank provides an option for Suncor to benefit from higher future oil prices and lower future development costs. The project has potential to add volume of reserves that is material to Suncor and the energy needs of the United Kingdom.
Our growth strategy
Our strategy for growth in the U.K. is to focus on high-potential, near-field developments through commercial and exploratory activities, in both operated and non-operated joint ventures.
Based in Aberdeen, Scotland, Suncor Energy’s team is well positioned to manage and grow our business in the region, with a continual focus on safe and reliable operations.