In 2006 Maersk Oil America Inc., a wholly owned subsidiary of Maersk Inc., acquired a 33.33% interest in more than 100 exploration leases in the western US Gulf of Mexico. After expiration of some leases and award of additional 6 leases in 2008, subject to US authority approval, Maersk Oil holds interests in 104 leases in this part of the Gulf. The leases cover an area of some 2,400 sq. kms. and with water depths up to 1,500 meters. Hess Corporation is operating the leases with a 66.67% interest.

In February 2007 Maersk Oil America acquired a 50% share in ExxonMobil's interest in 37 leases in the central US Gulf of Mexico. After expiration of some leases, the remaining 24 leases - operated by ExxonMobil, Chevron, ConocoPhillips, Devon og Hydro - cover an area of some 600 sq.kms. in water depths up to 2,400 meters.

In March 2008, Maersk Oil America was awarded two leases, Green Canyon 990 and Walker Ridge 314 in the Central Gulf of Mexico. ExxonMobil holds a 50% share in the GC990 lease.

Further, in August 2008 Maersk Oil America entered into an exploration agreement for a multi-well package with Chevron in the central deep water US Gulf of Mexico. Under this agreement, a number of exploration wells over the next few years will be drilled in the area with the first four due to be drilled late 2008 / early 2009. In addition to Chevron, it is expected that there will be other co-owners, varying from prospect to prospect. Maersk Oil’s working interest will be around 20%.

The assignment of interests to Maersk Oil Gulf of Mexico is subject to approval by the US Department of Interior’s Minerals Management Service (MMS).

See also press release of 22 September 2006.
See also press release of 15 February 2007.