BP, operator of the Schiehallion Field, offshore UK, will start oil exports this week.
The oilfield was shut down in May 2009 for maintenance purposes and remained closed following a collision with the shuttle tanker Loch Rannoch on 8 October 2009.
The collision damaged the hose reel that was used for oil transfer, which was subsequently replaced.
A spokesman told Reuters that following completion of repair work, the oilfield resumed production on 1 February 2010 and is expected to increase output.
In March 2009, the oilfield's output averaged 76,800bpd, according to the Aberdeen Petroleum Report.
Schiehallion is a deepwater offshore oilfield approximately 175km (110 miles) west of the Shetland Islands in the North Atlantic Ocean.