April 16, 2012 / 10:48 AM / 6 years ago

UPDATE 1-Nexen's Long Lake project output rises sequentially

April 16 (Reuters) - Nexen Inc said first-quarter output from its Long Lake project in Alberta rose about 10 percent sequentially as the Canadian independent oil producer looks to turn around the project that has never reached its capacity.

In the latest quarter, the company produced 34,500 barrels of bitumen per day, up from 31,500 barrels per day in the fourth quarter.

Nexen’s C$6.1 billion Long Lake project has a nameplate capacity of 72,000 barrels. But a series of technical and operating issues has plagued the project.

The company holds a 65 percent stake in the project, while China’s top offshore oil company, CNOOC Ltd, holds the remaining stake.

The Calgary-based company also said it has received regulatory approvals to proceed with the development of two drilling sites at Long Lake and Kinosis area.

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