Technip Scores Maersk Gig in North Sea

- Technip Scores Maersk Gig in North Sea

Tuesday, September 06, 2011
Technip

Technip was awarded an installation contract, worth approximately €40 million, by Maersk Oil North Sea UK Limited for the Gryphon Area Reinstatement Program – GARP, located about 320 kilometers North-East of Aberdeen in 110 meters of water.

This contract covers installation of 15 dynamic risers, 2 dynamic and 2 static umbilicals, 11 flexible flowlines as well as subsea equipment.

Technip's operating center in Aberdeen, Scotland will execute the contract, which is scheduled to be completed in the second semester of 2012. Vessels from the Technip fleet will be used for the campaign, including Skandi Arctic and Wellservicer.

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Maersk Buys Stake in HKN Energy

- Maersk Buys Stake in HKN Energy

Friday, August 26, 2011
Maersk Oil

Maersk Oil, a fully-owned subsidiary of the A.P. Moller – Maersk Group, has acquired a 20% shareholding in HKN Energy Ltd., a subsidiary of U.S.-based Hillwood International Energy, whose sole asset is a license in Kurdistan Region.

The acquisition is a step into the prolific but as yet underdeveloped area of Kurdistan in oil output terms, as Maersk Oil explores opportunities in the region.

"We want to gain knowledge and experience of operations in Kurdistan, which is why we have acquired a shareholding in a company already active in the region," said Jón Ferrier, Head of Business Development and Strategy in Maersk Oil. "In return, we will contribute our technical knowhow and expertise."

HKN Energy holds a 75% interest in and operatorship of the Sarsang license area in northern Kurdistan, on the highly prospective Zagros fold belt. HKN Energy drilled one discovery well in 2011 which is expected to be brought into production in 2012. Marathon Oil holds the remaining 25% interest in the license area.

The parties have agreed not to disclose the terms of the transaction.

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Maersk Awards TWMA Contract for Gryphon FPSO

- Maersk Awards TWMA Contract for Gryphon FPSO

Thursday, August 25, 2011
TWMA

Maersk Oil has awarded TWMA a contract to handle and dispose of subsea structures and equipment damaged during the Gryphon FPSO storm incident earlier this year.

The Aberdeen-headquartered oil and gas environmental waste management company has been contracted by Maersk Oil in the UK to handle the recovered structures and equipment which suffered damage when storm weather in the UK North Sea caused the Gryphon FPSO to move off station in February.

The contract is worth a six-figure sum and was awarded to TWMA as part of Maersk Oil's ongoing Gryphon recovery and repair program.

TWMA's workscope covers onshore handling, cleaning and cutting of subsea structures including risers, riser bases, flowlines, umbilicals, mid water arches and mattresses. The firm will maximize recycling and reuse options for all recovered materials.

The subsea structures and equipment will be recovered offshore prior to landing at Lerwick harbor, Shetland, where they will be transported to TWMA's onshore waste transfer station in Vatster Gott, Shetland.

Brian Henderson, environmental services division manager of TWMA, said, "Maersk Oil is one of our longest standing clients and we are delighted that they have chosen to use TWMA for this important recovery project.

"Having a permanent presence in Shetland with a dedicated waste transfer station and team allows us to deliver a highly efficient waste management service to Maersk Oil and other clients operating in this region.

"We anticipate that 95% of the subsea material recovered from the Gryphon field will either be reused or recycled, thus dramatically reducing the volume of waste sent for landfill.

"TWMA has extensive knowledge and many years of experience in the field of recovered waste materials, mainly handling large subsea structures and equipment such as pipelines and umbilicals for the decommissioning market. We implement similar waste management strategies to undertake projects such as this where equipment needs to be recovered and replaced with minimal disruption for oil production to go back online."

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Det norske Sells Stake in North Sea

- Det norske Sells Stake in North Sea

Tuesday, July 05, 2011
Det norske oljeselskap ASA

Det norske oljeselskap has sold a 15 percent interest in production license 450 to North Energy.

The license is located in block 7/12 in the North Sea, southwest of the Ula field. Drilling of the prospect Storebjørn is planned for in the fourth quarter of 2011 with the jack-up rig Maersk Guardian.

Det norske is the operator, and will after the transaction hold a 60 percent interest in the license. Partners are North Energy with a 15 percent interest, and Dana Petroleum Norway with 25 percent.

The sale is part of Det norske's continuous effort to diversify and optimize its exploration portfolio. The agreement remains subject to government approval.

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Maersk Extends Rig Fleet with $1.3B Drillship Order

- Maersk Extends Rig Fleet with $1.3B Drillship Order

Tuesday, July 05, 2011
A.P Moller - Maersk Group

Maersk Drilling, a business unit within the A.P. Moller- Maersk group, has declared its option to build two ultra deepwater drillships at Samsung Heavy Industries in South Korea.

The drillships are scheduled for delivery in the second and third quarters of 2014, respectively. The total project cost for the two drillships is approximately USD 1.3 billion, which includes a turnkey contract with the yard, owner furnished equipment, project management, commissioning, start-up costs and capitalized interest. Simultaneously, Maersk Drilling has obtained a new option for the construction of two additional drillships.

"We have an ambition of becoming one of the leading drilling contractors in the ultra deepwater segment and this order is another important step in taking a bigger share of this attractive market segment," said Claus V. Hemmingsen, CEO of Maersk Drilling and member of the Executive Board of the A.P. Moller – Maersk Group. "The order reflects our commitment to grow our rig fleet enabling us to serve our customers in the ultra deepwater segment on a more regular basis," Claus V. Hemmingsen continued.

Year to date, Maersk Drilling has invested USD 3.8 billion in two new jack-up rigs and four drillships.

Maersk Drilling had a revenue of USD 1.6 billion and a profit of USD 399 million after tax in 2010.

Hemmingsen sees a strong market for deepwater drilling rigs as the global demand for oil is increasing while at the same time production from mature fields is declining.

"This means that about six times the current Saudi production must be brought on stream over the next 20-25 years which will drive a solid growth in the demand for drilling services. The main part of this growth will take place in frontier areas such as deepwater," he said.

The two drillships will be of similar design to the two drillships Maersk Drilling ordered from Samsung in April 2011. The 228 meter long drill ships will be able to operate at water depths up to 12,000 ft (3,650 m) and will be capable of drilling wells of more than 40,000 ft (12,200 m).

Similar to the design philosophy on Maersk Drilling's ultra deepwater semi-submersibles the drillship design includes features for high efficiency operation including a dual derrick, which allows for parallel and offline activities. The extensive storage areas and tank capacities provide an advantage when operating in areas with less developed infrastructure and limited presence of suppliers. Together with the higher transit speed the increased capacity will reduce the overall logistics costs for the oil companies. The drillships will have accommodation capacity for 230 people.

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Maersk Interested in Oil, Port Projects in Russia

- Maersk Interested in Oil, Port Projects in Russia

Tuesday, June 21, 2011
Dow Jones Newswires
MOSCOW
by Jacob Gronholt-Pedersen

Danish shipping giant A.P. Moller-Maersk plans to spend around $1 billion a year on oil exploration in the coming years and is considering participation in offshore oil service projects in Russia's Arctic region, the company's chief executive, Nils S. Andersen, said.

"We would be interested in entering the oil service sector in Russia," S. Andersen told Dow Jones Newswires in an interview.

Russian Prime Minister Vladimir Putin met with the Maersk CEO in April at the company's headquarters in Copenhagen during an official visit to Denmark.

Maersk, whose oil reserves are declining in the North Sea, is actively seeking to increase oil reserves in the North Sea, Angola, Brazil and the Gulf of Mexico. The company could also be interested in joining Russian oil and gas projects, not only as a service contractor, but possibly as a partner in upstream projects.

"I won't exclude there are possibilities of joining upstream projects in Russia," S. Andersen said. "There are a number of international players over here. The possibilities are huge, but at the moment we have no concrete plans."

Russian state oil producer Rosneft is seeking to unlock vast energy reserves in its Arctic waters. Earlier this month, Rosneft's chief executive, Eduard Khudainatov, mentioned Maersk Oil alongside Norway's Statoil as possible partners in the Arctic.

Maersk has invested $1 billion a year in exploration activities in the last three years and plans to keep spending around that level, S. Andersen said.

During Putin's visit, investments in Russian ports were discussed.

"We are looking at investing in port terminals in Russia," S. Andersen said. "Our primary interest is in the gateways in the Gulf of Finland, the Black Sea and Russia's Far East.

Maersk, the biggest shipping company to and from Russia, owns a strip of land in the Kaliningrad port area on the Baltic Sea.

"We also have an option in Kaliningrad, but whether or not we will make use of it will depend on market developments," he said.

Copyright (c) 2011 Dow Jones & Company, Inc.

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Maersk Invests $1B in Golden Eagle Development Plan

- Maersk Invests $1B in Golden Eagle Development Plan

Friday, June 17, 2011
Maersk Oil

Maersk Group has approved its investment of $1 billion in the Field Development Plan for the Golden Eagle Area in the UK North Sea. Maersk Oil has a non-operated interest in the fields of 31.56% and its estimated share of reserves is expected to be around 45 million barrels of oil equivalent.

Subject to partner and regulatory approvals, construction of a platform and other infrastructure will begin in November this year. First oil is expected in 2014 with initial production rates at between 60,000-65,000 barrels of oil a day; Maersk Oil's share is expected to be 19,000-21,000 bpd.

"The approval of the field development plan is an important step towards getting production going in the Golden Eagle Area. The area is home to one of the largest discoveries in the UK North Sea in recent years, and we are pleased to be partners in such a promising field development," said Martin Pedersen, Managing Director of Maersk Oil UK.

The Golden Eagle Area comprises the Golden Eagle and Peregrine fields. Peregrine was known as Pink, while the Hobby discovery is now defined to be part of the Golden Eagle field. The fields were discovered 2007-2009 in Block 20/1 located 110 kilometers North East of Aberdeen. The fields are operated by Nexen (36.5%) with Maersk Oil, Suncor and Edinburgh Oil and Gas as partners.

Operator Nexen has estimated the Golden Eagle Area contains 140-150 million barrels of oil equivalent in gross recoverable contingent resources, making it one of the largest oil discoveries in the UK North Sea in recent years. Maersk Oil's estimated share of reserves is expected to be around 45 millions of barrels of oil equivalent.

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STEP Offshore to Deliver CRI System to Maersk Jackup

- STEP Offshore to Deliver CRI System to Maersk Jackup

Aker Solutions' wholly-owned subsidiary STEP Offshore has won a contract to deliver an integrated cuttings re-injection (CRI) system to Maersk Drilling's jackup rig Maersk Reacher.

Aker Solutions and STEP Offshore will supply a complete system for slurrification and re-injection of drill cuttings. The state-of-the-art system enables next generation HSE performance and drilling efficiency. The scope of supply includes process equipment, control system, installation supervision, commissioning, offshore start-up assistance and training.

"We are very proud to be awarded this contract by Maersk Drilling and look forward to working with them on this project," said Pål Eriksen, President of STEP Offshore. "We believe STEP Offshore won this important contract due to our ability to meet Maersk Drillings tight time schedule and our superior technical solutions."

The CRI Unit will be delivered in 2Q 2011. The value of the contract is NOK 25 million.

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Shell, Maersk Offer Bids for Offshore Danish Project

- Shell, Maersk Offer Bids for Offshore Danish Project

Thursday, May 26, 2011
IndigoPool

Shell and Maersk Oil as the operator (the Partners) are jointly offering up to 60% interest in the Elly and Luke development project located near the existing Tyra gathering, treating and transportation infrastructure. The Partners are in the advanced stages of planning for the combined development of the Elly and Luke discoveries that will deliver hydrocarbons into the Danish and Dutch gas transmission systems. The Luke and Elly fields are expected to yield mean recoverable gas resources of 180 BCF, with upside estimated at 430 BCF. In addition, exploration prospects in the licenses have potential mean recoverable gas resources estimated at 140 BCF with an upside of 422 BCF.

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Maersk Selects Lloyd's Register for FPSO Contract

Maersk Selects Lloyd's Register for FPSO Contract

Monday, May 02, 2011
Lloyd's Register

Lloyd's Register EMEA has been awarded the global contract to provide Maersk FPSOs with a comprehensive suite of technical services to assure the reliable operation of its fleet of floating oil and gas production units which serves some of the world's biggest offshore fields.

The multi-year agreement will require the combined expertise of the energy and marine teams at Lloyd's Register to deliver a suite of technical services -- including integrity and inspection management, classification, verification and engineering support -- to help ensure safe and sustainable operations. There is an option to extend beyond the original contract period.

"This is a very important contract for Lloyd's Register, not least because it offers further evidence of our ability to deliver a wide portfolio of technical services to elite companies in the offshore industry," said Iain Light, Group Energy Director, Lloyd's Register. "We are among very few organizations supporting the offshore industry that has the required global reach and depth of knowledge to deliver such a comprehensive and consistent range of technical support across the world."

Lloyd's Register has an unrivalled marine heritage which it has merged with the offshore expertise of its energy division and bolstered with specialist expertise acquired through recent acquisitions to offer a unique technical-assurance package that covers people, plant and process, Light says.

"Maersk FPSOs are pleased to continue our relationship with Lloyd's Register for classification, verification and integrity management services," said David McLean, Maersk FPSOs' Chief Operating Officer. "Following a competitive tender, the decision to award the contract was made on financial, technical and strategic grounds with LR ideally suited to align themselves geographically to our requirements."

Lloyd's Register has committed more than GBP150 million in the past five fiscal years to acquire companies displaying technical leadership in their specialist fields, including: Scandpower AS, a leader in independent risk-management; ModuSpec BV, the leading provider of technical services to the offshore drilling sector; and Human Engineering Ltd, one of the world's top human factors consultancies.

The new agreement will require Lloyd's Register to assist and advise Maersk FPSOs on meeting the regulatory, health, safety and environmental commitments of its asset integrity-management program.

It also requires Lloyd's Register to proactively manage activities relating to the retention of class notations for Maersk FPSOs' fleet, to supply the surveyors to carry out Flag State surveys and to carry out in-service and design verification and examination activities as required by local legislation and/or Maersk in markets as distant as Australia, Brazil, Norway and the UK.

To ensure a seamless delivery of the complex long-term program, the core integrity team at Lloyd's Register will reside with Maersk FPSOs' operations team in Aberdeen.

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Fire Extinguished at Maersk's Platform Offshore Qatar

Fire Extinguished at Maersk's Platform Offshore Qatar

Thursday, April 21, 2011
Maersk Oil

At 02:46 on April 21, a fire broke out on the Maersk Oil Qatar operated AD accommodation platform in the Al Shaheen field, 80 km north of Qatar.

The fire which took place in the emergency generator room has been extinguished and the situation is under control. All employees are safe and accounted for with no serious injuries. Our primary concern remains the safety and well-being of our personnel and those affected by the situation. All non-essential personnel have been evacuated from the platform and crisis counseling made available.

The cause of the fire is unknown and an investigation is underway to establish the root cause. However, three days prior to the incident production at A-Location had been shut-down for planned maintenance work. As a result no hydrocarbons were present at the time. There has been no environmental impact as a result of the incident.

Maersk Oil Qatar operates the Al Shaheen field on behalf of Qatar Petroleum. Currently there are 1561 personnel working offshore with 242 working at A-Location.

Maersk Oil Takes Stake Offshore Norway

Maersk Oil Takes Stake Offshore Norway

Friday, April 15, 2011
Maersk Oil

Maersk Oil has been awarded a 30% non-operated share in License PL597 on the Halten Terrace offshore Norway in the 21st Licensing Round.

The operator of the license is VNG Norge A/S (40%) with Dana Petroleum Plc as partner (30%). Together with Maersk Oil, the partners are committed to carrying out seismic data reprocessing leading to a decision whether to drill an exploration well.

"This license award fits well with Maersk Oil's strategy of building up a strong exploration portfolio in our chosen focus areas in Norway. It adds to our current interests in four other licenses on the Halten Terrace," said Morten Jeppesen, Managing Director of Maersk Oil Norway.

"We are committed to growing our business in Norway through exploration and acquisitions to build a significant portfolio of exploration and producing assets in the coming years," Jeppesen said.

Maersk Oil Strengthens North Sea Portfolio with Norway Acquisition

Maersk Oil Strengthens North Sea Portfolio with Norway Acquisition

Monday, April 04, 2011

Maersk Oil

Maersk Oil has acquired shares in three production licenses in Norway from Marathon Petroleum Norge A/S, a wholly-owned subsidiary of Marathon Oil, in exchange for Maersk Oil's financial contribution to the Earb South exploration well.

Marathon Petroleum Norge A/S is currently drilling the well on the Earb South Prospect in the South Viking Graben. Drilling is expected to be completed in May.

As a result of the deal, Maersk Oil will have a 15 percent share in Production Licenses PL505 and PL505BS, where Marathon Petroleum Norge A/S remains the operator (35%) with Lundin Petroleum (30%) and VNG (20%) as partners.

Maersk Oil will also have a 10% share in Production Licence PL570, operated by VNG (40%) with Marathon Petroleum Norge A/S (20%) and Lundin Petroleum (30%).

"This is quality acreage which helps our goal of building a strong portfolio in this part of the North Sea," said Maersk Oil Managing Director in Norway, Morten Jeppesen.

"We believe Maersk Oil's experience in similar plays in both Norway and across the border in the UK could be extremely useful in appraising this acreage, which we believe has a significant potential," Jeppesen said.

The transaction is subject to the necessary authority approvals.

Maersk Oil will now have a total of ten production licenses, three operated, in Norway.