Maersk Invests in New Danish Platform

Maersk Oil said Friday that it and its partners in the Danish Underground Consortium would invest $800 million in a new unmanned platform in the Danish North Sea. 

The investment in the development, known as Tyra Southeast, is expected to add reserves and resources of 50 million barrels of oil equivalent over the next 30 years to Danish production, comprising of 20 million barrels of oil and 170 billion standard cubic feet of gas. 

Mark Wallace, managing director for Maersk Oil Danish Business Unit, said: "The Danish North Sea still contains significant oil and gas resources. However, the remaining oil and gas is becoming progressively more difficult to extract, requiring efficient development, new technology and continued large investments." 

First oil from the new development is expected in early 2015 and after installing the platform, Maersk Oil plans to drill 12 wells during 2015-2017. 

Maersk Oil is a unit of Danish conglomerate A.P. Moller-Maersk A/S and is operator of the DUC joint venture. 

DUC is a partnership between A.P. Moller-Maersk A/S holding a 31.2% stake, Royal Dutch Shell PLC holding 36.8%, Nordsofonden holding 20% and Chevron Corp. holding 12.0%.

Copyright (c) 2013 Dow Jones & Company, Inc.

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Maersk Extends North Sea Energy Enhancer Gig

Northern Offshore, Ltd. reported that its subsidiary, Northern Offshore U.K. Limited, has received a declaration from Maersk Olie og Gas AS exercising the first of three one-year options for the jackup Energy Enhancer (300' ILC). The commencement date of the option period is mid-July 2013, which commits the Energy Enhancer to Maersk for continued operation in the Danish Sector of the North Sea until June 2014. This option exercise adds approximately $48 million to the company's contracted revenue backlog.

"We are pleased with the opportunity to continue our relationship with Maersk and sincerely appreciate their commitment to Northern Offshore. The Energy Enhancer is performing very well and this contract extension provides a significant increase in revenue from this unit. There are two remaining one-year options and with the North Sea market continuing to strengthen, we remain optimistic about this sector for the foreseeable future," Gary W. Casswell, Northern Offshore's president and CEO, said.

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Maersk Extends North Sea Energy Enhancer Gig

Northern Offshore, Ltd. reported that its subsidiary, Northern Offshore U.K. Limited, has received a declaration from Maersk Olie og Gas AS exercising the first of three one-year options for the jackup Energy Enhancer (300' ILC). The commencement date of the option period is mid-July 2013, which commits the Energy Enhancer to Maersk for continued operation in the Danish Sector of the North Sea until June 2014. This option exercise adds approximately $48 million to the company's contracted revenue backlog.

"We are pleased with the opportunity to continue our relationship with Maersk and sincerely appreciate their commitment to Northern Offshore. The Energy Enhancer is performing very well and this contract extension provides a significant increase in revenue from this unit. There are two remaining one-year options and with the North Sea market continuing to strengthen, we remain optimistic about this sector for the foreseeable future," Gary W. Casswell, Northern Offshore's president and CEO, said.

Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.
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RigLogix can provide the information that you need about the offshore rig fleet, whether you need utilization and industry trends or detailed reports on future rig contracts. Subscribing to RigLogix will allow you to access dozens of prebuilt reports and build your own custom reports using hundreds of available data columns. For more information about a RigLogix subscription, visit http://www.riglogix.com/.

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Valiant Farms out Isabella Prospect to Maersk

North Sea-focused Valiant Petroleum announced Friday that it has signed a farm-out deal with Maersk Oil North Sea UK that will see Valiant’s stake in the Isabella prospect reduce from 50 percent to 20 percent.

The Isabella prospect, which sits in the UK zone of the central North Sea in blocks 30/6b, 30/11a and 30/12d on production license 1820, is a gas condensate prospect. According to Valiant, the prospect is located on one of the largest undrilled fault blocks in the area and has prospectivity across a number of geological horizons.

Following the completion of the transaction the P1820 partners will be operator Apache North Sea (with a 50-percent stake), Valiant and Maersk Oil North Sea, which will have a 30-percent stake.

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Valiant Farms out Isabella Prospect to Maersk

North Sea-focused Valiant Petroleum announced Friday that it has signed a farm-out deal with Maersk Oil North Sea UK that will see Valiant’s stake in the Isabella prospect reduce from 50 percent to 20 percent.

The Isabella prospect, which sits in the UK zone of the central North Sea in blocks 30/6b, 30/11a and 30/12d on production license 1820, is a gas condensate prospect. According to Valiant, the prospect is located on one of the largest undrilled fault blocks in the area and has prospectivity across a number of geological horizons.

Following the completion of the transaction the P1820 partners will be operator Apache North Sea (with a 50-percent stake), Valiant and Maersk Oil North Sea, which will have a 30-percent stake.

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