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Relinquishment of the Elly-Luke gas accumulations 

A.P. Moller - Maersk has, in agreement with the partners, decided to relinquish the Elly area from the Sole Concession and relinquish License 8/06, Area A. The decision is based on careful analysis and evaluation, both technical and commercial, and follows the communication made in Q2 2013 on reconsidering the project’s economic viability. A.P. Moller - Maersk has assessed that more value can be created by investing resources in other projects with less associated risk such as the USD 800 million Tyra Southeast extension announced in April 2013.

A.P. Moller - Maersk and partners have decided to return the two areas prior to the 7th licence round.

The Elly-Luke accumulations are High Pressure High Temperature gas with high CO2 content.

Partners in License 8/06, Area A, are Shell (43.3%), A.P. Moller - Maersk (36.7%) and Nordsøfonden (20%) and in the Sole Concession A.P. Moller - Maersk (31.2%), Shell (36.8%), Nordsøfonden (20%) and Chevron (12%). Maersk Oil is operator of both the Sole Concession and License 8/06, Area A.


For more information, please contact the Head of Communications for Maersk Oil Danish Business Unit, Kis Soegaard, + 45 21 28 46 08 or
kis.soegaard@maerskoil.com

About Maersk Oil
Maersk Oil is an international oil and gas company with operated production of about 600,000 barrels of oil equivalent per day from Denmark, the UK, Qatar, Kazakhstan, Brazil and Algeria. Exploration activities are on-going in Angola, Norway, the US Gulf of Mexico, Greenland, Iraqi Kurdistan and in the producing countries. Turning marginal and challenging fields into commercial successes has been the cornerstone of Maersk Oil’s business since 1962. Maersk Oil focuses on pioneering technologies and harnessing talent to continue to operate safely and successfully, creating value for partners and host governments. Maersk Oil is a fully-owned subsidiary of the global conglomerate, the A.P. Moller – Maersk Group. For more information about Maersk Oil, please visit the website at www.maerskoil.com