Nexen nets Golden approval for North Sea oil project

Nexen Petroleum UK, subsidiary of Canadian energy firm Nexen, has won approval for its Golden Eagle area development in the North Sea. The second largest oil producer in the UK […]

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By Vicky Ellis

Nexen Petroleum UK, subsidiary of Canadian energy firm Nexen, has won approval for its Golden Eagle area development in the North Sea. The second largest oil producer in the UK got the go ahead from DECC for the £2billion project. The project is expected to produce around 140 million barrels of oil equivalent over its 18 year life cycle, with oil first forecast for late 2014.