Algeria

Average entitlement production in Q1 2015 was 37,000 boepd. Maersk Oil engaged with the operators to review upcoming shutdown maintenance work with the aim of further improving efficiency and collaboration on one of our most important assets.

 

Angola

The Chissonga project team is working with contractors to capture cost savings resulting from the downturn in oil price.  We are also pursing some commercial options to make Chissonga a more attractive project for all stakeholders.

 

Brazil

The Q1 2015 gross production from the Polvo field was 9,000 bopd with a Maersk Oil share of 2,000 bopd. Operator HRT is now named PetroRio.

 

Denmark

Q1 entitlement production was 57,000 boepd. Production was impacted in the first part of Q1 due to harsh weather causing precautionary shut-down of the Tyra facilities in January and February, though losses were partially recovered in March. Other major planned work included Valdemar gas lift installation and inspection of pressure vessels on both Gorm and Halfdan.

 

The expansion of the Tyra Southeast completed drilling and stimulation of the first and also as commenced complete hook-up of production and gas lift systems. At end of Q1, production started from the well.

 

The gas lift project for Roar and Valdemar progressed with completing installation and hook-up of the gas lift units and modules on Valdemar VAA and VAB facilities. In Q2 the work will move to the VBA platform.

 

On 13 April the new organisation structure went live in the Danish Business Unit at Esbjerg and at Oslo Plads in Copenhagen. The aim is to over time improve operational performance in a more asset focussed set up.

 

Kazakhstan

Entitlement production from the Dunga Field in Q1 2015 was 6,000 boepd which compares favourably with the Q4 2014 entitlement of 4,000 boepd.  Operated production in Q1 was 13,000 boepd with a peak of 15,000 boepd in March, a field record. The production increase since 2013 reflects the progress of the Dunga Phase II development project, with 164 wells drilled out of a planned total of 198. Oil production through the first of the planned gathering lines, K-Line started during Q4 2014 and L-Line was brought on stream on 31 December 2014.

 

Kurdistan

A conceptual Field Development Plan for Sarsang was submitted to the authorities in January 2015 aiming at securing an attractive project with a capacity of 50,000 boepd (not production target). Alignment was achieved in the Sarsang Joint Venture and agreement was achieved with the authorities regarding a model where gas handling was transferred to the Ministry of Natural Resources (MNR).

 

Norway

The Phase 1 development at Johan Sverdrup was board approved and submitted to the authorities for sanctioning on 13 February 2015. Approval by the parliament is expected late June.

 

A unitization agreement for the field was entered by four of the five partner companies but not supported by Det norske oljeselskap. The unit interest allocation as outlined in this agreement gives Maersk Oil unit interest of 8.12% and is temporarily adopted by the partnership. The Ministry of Petroleum and Energy has been requested by the four partners to provide a final ruling of the unit split.

 

Qatar

Maersk Oil’s average entitlement production share for Q1 2015 was 138,000 boepd, above December 2014 estimate of 114,000 boepd.  The team in Doha worked hard to deliver their operated production target, and this coupled with oil price effects provided the increase. The average operated production from the Al Shaheen field in Q1 2015 was 294,000 barrels of oil per day, above the planned production of 282,000 barrels of oil per day, positively impacted by the restructuring and scope optimisation of planned shut-downs.

 

The FDP2012 project is progressing as per plan with completion of more than half of the planned 50 wells.

 

UK

Maersk Oil’s average entitlement production share in Q1 2015 was 61,000 boepd. This is an increase compared to Q4, mainly due to high production efficiency from the GPIII asset which achieved a capacity that was 10,000 boepd above recent averages.

 

The non-operated Golden Eagle field ramp-up progressed with two platform wells and the subsea Peregrine well on stream. The water injection system was commissioned in Q1 and the first injection well came into operation mid-March. Production efficiency has been high (around 90%) to date with correspondingly higher than forecast production levels.

 

US Gulf of Mexico

Q1 entitlement production from Jack was 3,000 boepd and the gross production was 12,000 boepd, higher than initial estimates due to better well and topsides performance. Jack will experience continued ramp-up through Q3 2015.