Algeria

Average entitlement production in 2015 was 34,000 boepd (37,000 in 2014). Volumes have been impacted by lifting schedules and reduced production efficiency in both HBN-HBNS and El Merk Central Processing Facilities.

 

Angola

The Chissonga project recently went through an integrated gate review.  Results indicate that economics are not robust enough to move forward with a stand-alone project and this development option is on hold. Work continues through a combination of potential cross block development, improved PSA terms and capital cost reductions.

 

Brazil

The Brazilian Regulator, ANP, has approved the sale of Polvo in February 2016.

 

Denmark

Operational performance was strong throughout the second part of the year, resulting in a full year entitlement production increase to 60,000 boepd. Strong performance has partly offset the natural decline (64,000 in 2014).

 

Production in Q4 was impacted by the planned partial shutdown on Dan, planned construction activities on Tyra and three shutdowns on Tyra. Rolf continued to exceed forecast due to flush production.

 

The development drilling campaign on Tyra SE is progressing as planned with the second development well now on production.

 

New contracts have been awarded for three drilling rigs for three-year periods. Rig rates are significantly below previous contracts, contributing to lower operating costs. Also new contracts for accommodation rigs have been agreed: Maersk Resilient has started on a long-term drilling contract and Maersk Guardian was awarded a five-year contract as an accommodation rig.

 

Kazakhstan

Average entitlement production in 2015 was 6,000 boepd (4,000 in 2014). A maintenance shutdown was completed successfully in Q4 in 5 days compared to the originally planned 14 days.

 

18 development wells were drilled in 2015, leaving the total drilled well for Dunga Phase II at 170.

 

Kenya/Ethiopia

Acquisition of African Oil’s interest in licences in Ethiopia and Kenya was approved by Kenyan authorities in January 2016 and the Ethiopian authorities in February.

 

Drilling has recently completed on the Etom-2 exploration well in the Lokichar Basin, Kenya.  The well discovered a significant hydrocarbon column and opens up further prospectivity to the northern end of the basin. In total nine successful wells have now been drilled in the licence in the Lokichar basin.

 

 

Kurdistan

The average production output from Swara Tika in 2015, was some 3,000 boepd gross. All produced crude was sold on the local market in 2015.

The current production potential for the Swara Tika field, is estimated to be around 9,000 bpd. This production level is expected to increase significantly over the coming years as the field development progresses. All produced crude will be trucked to the KRG pipeline and sold on the international markets.

 

Norway

The Norwegian King in Council decided on 18 December 2015 not to change the unitization on Johan Sverdrup thereby confirming the Maersk Oil equity share as 8.44%.

 

Johan Sverdrup Phase 1 execution progresses per plan with 8% completed by the end of 2015. Procurement awards include the offshore accommodation platform, transport and installation, living quarters and production facility jackets, offshore line pipe, offshore pipeline installation and civil work for Power-From-Shore.

 

Qatar

The full year entitlement production was 131,000 boepd (102,000 in 2014), ahead of the target due to lower oil prices.

 

The USD 1.5 billion Al Shaheen FDP 2012 development plan in Qatar is ongoing and now more than 80% complete.

 

Maersk Oil is preparing for the licence renewal tender initiated by Qatar Petroleum to continue operating the Al Shaheen field beyond licence expiry in 2017.

 

UK

The full year entitlement production was 71,000 boepd (41,000 in 2014), well ahead of the target, due to good well performance and Operations Excellence improvements.

 

US Gulf of Mexico

At Jack which started production late 2014, full year entitlement production was 6,000 boepd, ahead of the target due to good well performance and high facility up-time. The partners are moving ahead with the Jack Stage II development.

 

Progression of the Buckskin project into define stage has been deferred following operator Chevron’s decision to withdraw from the licence in January 2016. An extension has been applied for by the remaining partners and Repsol has stepped in as "lead partner" in the interim.

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