Maersk Oil UK increases acreage after UK 27th Round Licensing Awards

abarrelfullabarrelfull wrote on 26 Oct 2012 20:43
Tags: europe maersk uk upstream

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Maersk Oil UK has been offered nine of the currently awarded licenses in the UK’s 27 Licensing Round, three operated and six non-operated, further strengthening its position in the UK North Sea. The awarded licences will result in exploration drilling of one firm well and one contingent well.

“The award of these new licenses adds significantly to our long term growth strategy for the UK business,” said Martin Rune Pedersen, Maersk Oil UK Managing Director. “Our aim is to double our production in the next 5-7 years, and the award is integral to sustaining future growth. The Exploration Team is highly experienced, with an excellent track record of successful bids and the technical expertise to maximise value from the licenses. As a global company, we were able to leverage our recent successes such as in Norway with the Johan Sverdrup discovery, and apply lessons learned to the UK business.”

“Our planned drilling programme and project developments will see an intense period of activity and I am delighted that in a tight rig market we have already secured the Sedco 704 rig on a two-year contract starting early 2013 that will also allow for timely execution of the wells from the 27th Round awards.”

Some of the licences offered lie around Maersk Oil UK operated discoveries including Culzean, Ockley and Courageous. In addition to the offered acreage, Maersk Oil UK still has as number of outstanding applications pending environmental assessment.

Maersk Oil UK was awarded the following licenses:

• West Courageous Block30/1g, with Maersk Oil UK (99.5%) operator and Gaz de France (0.5%) as partner, adjacent to Courageous and Oakwood. There is a commitment to one firm well and one contingent well
• Edinburgh area Block 30/14b adjacent to Flyndre/Cawdor with Maersk Oil UK as operator (50%) and partner Gaz de France(50%)
• NW Culzean Area Block 22/24f (split), 22/25f (split), adjacent to Culzean, with Maersk Oil UK as operator (50%) and partners JX Nippon (17.07%), ENI (16.97%), BP (16%)

Non- operated
• North Quad 9 area Block 9/9f, (Split) 9/10b (Part)with Maersk Oil UK (40%) Total operator (50%), First Oil (10%)
• Moray Firth 1 block 13/29c Maersk Oil UK (50%) with Nexen operator (50%)
• Fisher Bank Basin 2 Block 22/8b, Maersk Oil UK (20%), BG operator(45%), KMG (35%)
• Fisher Bank Basin 3 Block 22/9b,(split) Maersk Oil UK(20%), BG operator (45%), KMG(35%)
• Jearen High, Blocks 22/10b,23/6, 23/22b,22/15c Maersk Oil UK (30%), Centrica as operator(40%), EON (30%)
• Jackdaw South area blocks 30/2e,30/3b, Maersk Oil UK(33.3%), Gaz De France as operator(33.3%), JX Nippon(33.3%)

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