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Deepwater exploration

In February 2010, Maersk Oil acquired 25% interest in the Jack development project in the central Gulf of Mexico from operator Devon. Production from Jack is expected to commence in 2014. Further, Maersk Oil acquired 62 leases in the 2010 central Gulf of Mexico Lease sale, subject to authority approval.

In August 2008, Maersk Oil entered into an exploration agreement for a multi-well package with Chevron in central U.S. Gulf of Mexico. Partner constellations vary from prospect to prospect and Maersk Oil’s working interest is around 20%. Under the agreement, a number of exploration wells have been drilled, including the Buckskin discovery well where work is ongoing to determine commerciality.

Additional information

In 2006, Maersk Oil acquired a 33.33% interest in more than 100 exploration leases in the western U.S. Gulf of Mexico. Maersk Oil now has interest in close to 100 leases after some expired, and an additional six were awarded in 2008. The leases cover an area of some 2,000 square kilometres in water depths of up to 1,500 metres. Hess Corporation is operating the leases with a 66.67% interest.

In 2007, Maersk Oil acquired a 50% share in ExxonMobil's varying interests in a number of leases in the central U.S. Gulf of Mexico. A year later, it was awarded two further leases. All these leases cover an area of about 1,300 square kilometres with water depths of up to 2,400 metres.

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