Maersk sees further potential in Al Shaheen

Expansion of the Al Shaheen field continues offshore Qatar, according to operator Maersk Oil.

Offshore staff

COPENHAGEN, Denmark -- Expansion of the Al Shaheen field continues offshore Qatar, according to operator Maersk Oil. However, work on the development plan initiated in 2005, which included 15 new platforms, is largely complete.

Total investment for the period 2006-2010 was $6.2 billion, the company adds. Drilling should continue through 2012, and recent drilling/production results have confirmed that the field holds significant unexploited potential.

Maersk is evaluating the data with Qatar Petroleum with a view to determining further investment plans. In the meantime, production should hold steady at around 300,000 b/d of oil. Maersk’s share of the production in 2010 was 61 MMbbl, down on the previous year’s figure – the lower share is due to a combination of higher oil prices and investments/costs.

In the Danish North Sea, A.P. Møller – Maersk invested $230 million in field development last year. Among the latest programs, work on the latest phase at the Halfdan field continued as planned with a new processing platform set to come onstream shortly.

Maersk is also working on a pilot installation in the Danish offshore sector that would combine enhanced oil recovery with CO2 (carbon dioxide) storage.

In the Norwegian sector, options are under evaluation for the Flyndre/Cawdor area, and a development plan should be issued later this year. In the UK North Sea, Maersk is evaluating appraisal drilling of the Culzean gas discovery, and expects to reach a conclusion regarding commerciality during the first half of 2011.

02/24/2011

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