North Sea operator CNOOC confirmed its Golden Eagle Area Development (GEAD) has commenced production.
The timetable is in-line with predictions made earlier this year.
The Chinese state-run oil group is targeting between 422million and 435million barrels of oil equivalent from its operations this year.
Li Fanrong, chief executive of CNOOC, said: “GEAD was delivered on schedule, on budget, and to world-class safety standards. The GEAD supported in excess of 2,500 jobs in the UK and makes a significant production contribution to the company in the near future.”
There are currently two Golden Eagle wells producing 18,000 barrels of oil per day. Peak production, which is targeted for next year, is expected to reach 70,000 barrels per day.
GEAD, located 70km northeast of Aberdeen, includes development of the Golden Eagle, Peregrine and Solitaire fields.
Nexen Petroleum, a wholly-owned subsidiary of the CNOOC, acts as the field’s operator with a 35.54% interest. The remaining interests 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%).