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Maersk Oil is currently developing a number of projects. Operated projects include the Culzean and Flyndre/Cawdor oil and gas discoveries, the latter straddling the UK and Norwegian median line. Maersk Oil recently invested USD 1 billion in the Nexen-operated Golden Eagle field, first production from which came onstream in late 2014.
Maersk Oil is notably strong in exploring the mature UK offshore area. In 2014/15, 8 exploration and appraisal wells, of which 6 are operated, were drilled. Maersk Oil has 36 exploration licences in the UK, 21 of which are operated.
2016: Drilling begins on Culzean project (Sept)
2015: Culzean project sanctioned (August)
2014: Golden Eagle project brought onstream2013: > 50 milincremental barrels produced from Dumbarton
2013: Production commences on Balloch
2011: Dev. approval granted for Golden Eagle
2008: Discovery of HPHT Culzean field
2007: Gryphon and Janice in production when Maersk Oil acquired Kerr-McGee’s UK assets.
2007: Production begins at Dumbarton, abandoned by previous operator.
Bucking the trend of many oil companies in the maturing North Sea, Maersk Oil aims to increase oil and gas production significantly in the coming years through efficient operatorship of its current assets and an active exploration and development programme.
Maersk Oil has gained significant expertise in high pressure, high temperature (HPHT) operations by operating the Culzean discovery in the UK.
The Maersk Oil operated ultra high pressure, high temperature Culzean field in the UK Central North Sea is expected to produce enough gas to meet 5% of total UK demand at peak production in 2020/21.