PARIS, June 11 (Reuters) - French energy group Total said it had started up the production of the Culzean field in the North Sea, adding that the Culzean project had been delivered ahead of schedule and below budget.
Culzean will account for around 5% of the UK’s gas consumption, bringing to 18% the proportion of the country’s gas demand supplied by Total.
Total has a 49.99% stake in Culzean, while BP has 32% and JX Nippon has 18%.
“The Culzean project is delivered ahead of schedule and more than 10% below the initial budget, which represents capex savings of more than $500 million. This has been achieved thanks to the excellent performance of the project teams in charge of the construction and drilling operations,” said Arnaud Breuillac, President of Exploration & Production at Total. (Reporting by Sudip Kar-Gupta; Editing by Mathieu Rosemain)