Maersk Oil in the North Sea
Maersk Oil operates and has upstream investments which span the Danish, UK and Norwegian sectors of the North Sea.
The North Sea is a core value driver for Maersk Oil, and the hub for our operated assets. We see a bright future with billions of barrels of economically recoverable resources remaining. It will take a winning combination of experience, the skilled application of the right technology, and resourceful, dedicated people. Maersk Oil is well positioned to deliver this.
Maersk Oil is the operator of one of the largest developments taking place in the UK North Sea, the maturation of the Culzean high pressure, high temperature gas and condensate field. The multi-billion dollar project is in the execution phase, with the first of three jackets installed on the seabed and drilling commenced in 2016. The Maersk Oil discovery is on schedule to deliver first gas in 2019.
Maersk Oil is also a partner in the giant Johan Sverdrup development offshore Norway. Hailed as one of the largest discoveries ever made on the Norwegian continental shelf, the project is estimated to produce up to 660,000 barrels of oil equivalent per day once its second phase comes on stream. Phase 1 is already in execution and will deliver 440,000 barrels per day, and is slated to deliver first oil in 2019.
New Oil and Gas production
Through strategic investments in assets operated by others in the North Sea, as well as our operated portfolio, Maersk Oil has played a role in bringing production from three new assets on stream in the North Sea since 2014. Tyra Southeast in Denmark came onstream in March 2015 and Flyndre, which straddles the UK and Norwegian median line delivered first oil in 2017.
In late 2014 the Golden Eagle development, in which Maersk Oil holds a 31.56% interest came onstream and has since reached plateau production of around 70,000 barrels per day.
The North Sea is a challenging environment to operate in, with resources often hundreds of kilometres from the mainland, reached efficiently only by helicopter, and in some of the roughest seas and hardy environments anywhere on earth, particularly during the winter months.
For those with the operational aptitude, the technological capability, and deep-rooted experience of what it takes to operate here safely and reliably – it is, and will remain, a rewarding and profitable basin to operate in.