The £2bn project is expected to produce an estimated 140 million barrels of oil equivalent (gross) of proved and probable reserves over an 18-year period.
The development encompasses both the Golden Eagle and Peregrine reservoirs located in the 20/1N, 20/1 and 14/26a blocks in the central North Sea.
Nexen said the development plan for Golden Eagle incorporates a combined production, utilities and accommodation platform linked to a separate wellhead platform.
Plans call for 16 platform-based and four subsea development wells to be drilled, and the development will also include associated in-field and export pipelines.
Oil production is expected to begin in 2014, with an initial gross production rate of up to 70,000 barrels of oil equivalent per day.
Nexen is the operator of Golden Eagle with a 36.54% working interest, and its project partners are Maersk Oil North Sea UK (31.56%), Suncor Energy UK (26.69%) and Edinburgh Oil and Gas (5.21%).
