Danish Underground Consortium to Invest $800 Million on Tyra Southeast Expansion

Tyra Southeast expansion, Image: Maersk Oil

Maersk announced today that the Danish Underground Consortium (DUC) has approved an $800 million expansion of the Tyra Southeast development in the Danish North Sea.  This plan includes a new unmanned platform, subsea pipelines, and associated well drilling services, and is expected to add reserves and resources of 50 million barrels of oil equivalent over the next 30 years to Danish production.

The DUC is the partnership between A.P. Møller – Mærsk (31.2%), Shell (36.8%), Nordsøfonden (20%) and Chevron (12.0%).

“The Danish North Sea still contains significant oil and gas resources,” commented Mark Wallace, Managing Director for Maersk Oil Danish Business Unit, the operator of the DUC. “However, the remaining oil and gas is becoming progressively more difficult to extract requiring efficient development, new technology and continued large investments. The Tyra Southeast development is an example of our efforts to maximise recovery from the Danish North Sea. The investment represents an important part of the next chapter in the Danish oil production.”

Maersk Oil has – as operator of DUC – signed a contract with Bladt Industries A/S, a Danish contractor located in Northern Jutland, to build the jacket (legs) and topside (platform). The installation is planned to take place at the end of 2014. The project schedule aims to have first oil early in 2015. After installing the platform, Maersk Oil plans to drill 12 wells during 2015-2017. Each horizontal well will be about six kilometres long.

The project has been formally approved by the Danish Energy Agency.

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