Al Shaheen development nearing completion

Development of the Al Shaheen field offshore Qatar is around 80% complete, according to Maersk Oil and Gas.

Offshore staff

COPENHAGEN -- Development of the Al Shaheen field offshore Qatar is around 80% complete, according to Maersk Oil and Gas.

The new production facilities are being commissioned as they are installed, with installation due to be completed by the turn of the year.

During the first half of 2009 Al Shaheen’s oil production averaged around 310,000 b/d, slightly below the corresponding period in 2008. Output is still being restricted by the Qatari authorities, Maersk explains, and the company is discussing the future production level with Qatar Petroleum.

Maersk’s share of production between January and June was 44 MMbbl, around 34% higher than in the same period in 2008. This increased share is designed to cover investments and costs, the company adds, and is influenced by factors such as the lower average crude price.

In the Danish North Sea, Maersk says that latest development activities on the Halfdan field are almost 50% complete with a new processing platform in place.

As for other group subsidiaries, all Maersk Drilling rigs were under contract in the first half of 2009, bar one semisubmersible based in the Caspian Sea. The company took delivery of one jackup, which started working in the Danish North Sea in spring, and one semisubmersible, which will begin drilling shortly in the Gulf of Mexico.

One further jackup, two semis, and one new FPSO are due to join the fleet over the next year. The FPSO has been assigned to a long-term contract offshore Brazil.

Maersk Supply Services took delivery of five new vessels in the first half of this year. At end-June, its fleet comprised 42 anchor-handlers, 11 supply vessels, and three other vessels. The low level of global exploration activity has negatively impacted rates and utilization ratios for all types of offshore support vessels, the company claims.

08/21/2009

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