Algeria

Average entitlement production in Q2 2015 was 28,500 boepd. Volumes have been impacted by delays to the maintenance shutdown of the HBN-HBNS plant and gas compression issues.

 

Angola

The Chissonga project team is working with contractors to capture cost savings resulting from the downturn in oil price.  Maersk Oil is also pursuing other options to make Chissonga more economically viable.

 

Brazil

In Q2 2015 gross production from the Polvo field was 9,000 bopd with a Maersk Oil share of 3,600 bopd.

 

Denmark

Q2 entitlement production was 64,000 boepd. Production has in general been stable and as expected in Q2, including planned shutdowns to allow work on the Valdemar facility.

 

The Tyra Southeast expansion project completed drilling and stimulation of the first well which is performing in line with expectations.

 

The Gas Lift project for Roar and Valdemar completed installation of modules on Valdemar VAA and VAB facilities and is now largely complete and expected to finalise in Q3 2015.

 

Kazakhstan

Entitlement production from the Dunga Field in Q2 2015 was 6,000 boepd which compares favourably with the Q4 2014 entitlement of 4,000 boepd.  Operated production in Q2 was 13,000. The production increase since 2013 reflects the progress of the Dunga Phase II development project, with 169 wells drilled out of a planned total of 198.

 

The exploration well Kazan Gap in Block 6 was dry and the exploration well in Block 7, Kairgeldy is not yet completed.

 

Kurdistan

The Swara Tika discovery in the Sarsang licence is being developed towards possible sanction. Two licenses have been relinquished due to disappointing drilling results.

 

Norway

Phase 1 on Johan Sverdrup received sanction from the authorities in August. The Ministry of Petroleum and Energy provided final ruling of the unit split giving Maersk Oil an interest of 8.44%.

 

Qatar

Maersk Oil’s average entitlement production share for Q2 2015 was 120,000 boepd.

 

The quarter was negatively impacted by re-phasing of A-location shut-down and an unplanned shutdown of A-location due to an accommodation platform punching through the sea-bed.

 

The FDP 2012 project is progressing as per plan.

Maersk Oil is preparing for the Al Shaheen tender in order to maintain operatorship after mid-2017 and expects to deliver a highly competitive offer.

 

UK

Maersk Oil’s average entitlement production share in Q2 2015 was 77,000 boepd. This is an increase compared to Q1, mainly due to high production efficiency from the GPIII asset which achieved a capacity which 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.  Production efficiency has been high (around 90%) to date with correspondingly higher than forecast production levels.

 

The high pressure, high temperature Culzean project was sanctioned by the UK authorities in August and is progressing towards first gas in 2019.

 

The Janice installation is expected to have maximised economic recovery and Maersk Oil has started preparation to cease production in 2016.

 

US Gulf of Mexico

Q2 entitlement production from Jack was 6,000 boepd and the gross production was 24,000 boepd, higher than initial estimates due to better well and topsides performance. Jack will continue ramp-up through Q3 2015.

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