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Maersk Oil Expands Footprint in Norway After Licence Awards

Maersk Oil Maersk Oil has been awarded seven licences offshore Norway in the APA Licencing Round, strengthening its position around the large Avaldsnes discovery and other Maersk-oil operated licence areas.

"The award of new licences significantly adds to our exploration portfolio and represents another step towards building material business in Norway, a country that has seen some large discoveries recently," said Morten Jeppesen, Managing Director of Maersk Oil Norway.

"This licence award boosts our strategy of focusing on the areas on the Norwegian Continental Shelf where Maersk Oil believes it can add most value through our technical expertise and experience," Jeppesen said.

Maersk Oil entered Norway in 2003 and holds a 20% share in both the Avaldsnes oil discovery and the Zidane gas discovery. It is currently drilling its first operated well at the T-Rex prospect. The next operated exploration well will be drilled later in 2012.

"The new licences add to the success we have had in the South Viking Graben region, where the Avaldsnes discovery lies, and on the Halten Terrace area, home to the Zidane discovery. With two new operated licences, our activity level will remain high in the coming years," Jeppesen said.

Maersk Oil in Norway was awarded the following licences (see below map):

Operated
  • Licence PL513B, adjacent to the Maersk Oil-operated licence PL513 which will be drilled later this year, with Maersk Oil (50%) as operator and Dana (50%) as partner.
  • Licence PL647, adjacent to the Maersk Oil-operated licence PL513 which will be drilled later this year and close to the Zidane discovery in which Maersk Oil has a 20% interest, with Maersk Oil (40%) as operator and RWE (30%) and Premier (30%) as partners.
Non-operated
  • Licence PL625, close but not adjacent to Avaldsnes, with Lundin (40%) as operator and Maersk Oil (20%), Bayerngas (20%) and Petoro (20%) as partners.
  • Licence PL623, near Avaldsnes, with Talisman (40%) as operator and Maersk Oil (20%), Premier (20%) and Bridge (20%) as partners.
  • Licence PL622, near Avaldsnes, with Premier (60%) as operator and Maersk Oil (40%) as partner.
  • Licence PL649, close to the Maersk Oil-operated licence PL513 which will be drilled later this year, with VNG (40%) as operator and Maersk Oil (30%) and Dana (30%) as partners.
  • licence PL597B, adjacent to PL597 in which Maersk Oil has a 30% interest, with VNG (40%) as operator and Maersk Oil (30%) and Dana (30% as partners).

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Maersk Oil is an international oil and gas company with operated production of about 650,000 barrels of oil equivalent per day offshore Denmark, UK and Qatar, as well as onshore Kazakhstan and Algeria. Exploration activities are ongoing in Angola, Brazil, Norway, the US Gulf of Mexico, Greenland and in producing countries. Maersk Oil has 50 years experience of exploring, developing and producing oil in the Danish North Sea and since 2005 has also built up production in the UK North Sea.

Published 17/01/2012

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