Maersk Oil

Maersk Oil
Native name
 Mærsk Olie og Gas A/S
Formerly called
 Dansk Boreselskab
Private
Industry Oil and Gas
Founded Copenhagen, Denmark 1962 (1962)
Founders
Headquarters Esplanaden 50, Copenhagen, Denmark
Number of locations
  • Angola
  • Qatar
  • Greenland
  • Denmark
  • Algeria
  • Kazakhstan
  • United Kingdom
  • United States
  • Norway
  • Brazil
  • Kenya
  • Ethiopia
  • Kurdistan Region of Iraq
Area served
 Worldwide
Key people
  • Jakob Bo Thomasen (CEO)
  • Graham Talbot (CFO)
  • Gretchen Watkins (COO)
Production output
 550.000 of BOE (2015)
Services
Revenue
  • DecreaseUS$5.639 million (2015)
  • US$8.737 million (2014)
  • DecreaseUS$435 million (2015)
  • US$1.035 million (2014)
Total assets
  • Decrease US$8.681 million (2015)
  • US$10.792 million (2014)
Number of employees
  • 4.400 (2015)
  • 4.400 (2014)
Parent A. P. Moller-Maersk Group
Website www.maerskoil.com
Footnotes / references
[1][2][3][4][5]

Maersk Oil (Danish: Mærsk Olie og Gas A/S) is a Danish oil and gas company owned by the A. P. Moller-Maersk Group. The company was established in 1962 when Maersk Group was awarded a concession for oil and gas exploration and production in the Danish sector of the North Sea. In 1986, Maersk Oil took over the operation of the Dansk Undergrunds Consortium's fields in the Danish section of the North Sea.[6] Maersk Oil is an international oil and gas company with operated production of 550,000 barrels of oil equivalent per day. Production comes from Denmark, the UK, Qatar, Kazakhstan, the US Gulf of Mexico, Algeria and Brazil. Exploration activities are on-going in Angola, Norway, Greenland, Kurdistan Region of Iraq and in the producing countries.

The cornerstone of Maersk Oil’s business has been turning challenging oil fields into commercial successes. Maersk Oil focuses on new technologies to create value for partners and host governments. Maersk Oil is a fully owned subsidiary of the global conglomerate, the Maersk Group.

On 31 August, 2015, the UK Oil And Gas Authority approved a consurtium headed by Maersk Oil going ahead with production at the Culzean oil and gas field about 150 miles southeast of Aberdeen, Scotland in the North Sea.[7] The high pressure, high temperature field held the equivalent of about 300 million barrels of oil and, when it reached peak production in 2020 or 2021, was expected to produce enough gas to meet 5% of the UK's needs. Maersk Oil said that it and its other consortium partners, JX Nippon and BP (Britoil) would invest about £3 billion (about $4.5 billion) in the field's development.[8]

See also

References

  1. ↑ "The Maersk Group - Annual Report 2015" (PDF). Retrieved 14 February 2016.
  2. ↑ "Maersk Oil Company Profile 2014" (PDF). Retrieved 14 February 2016.
  3. ↑ "Maersk Oil Fact Sheet". Retrieved 14 February 2016.
  4. ↑ "History of Maersk Oil". Retrieved 14 February 2016.
  5. ↑ "Maersk Annual Magazine 2015" (PDF). Retrieved 16 February 2016.
  6. ↑ Hahn-Pedersen, Morten (1999). A.P. Møller and the Danish oil. Schultz Forlag. p. 217. ISBN 978-87-609-0465-3.
  7. ↑ Production approved for Maersk Oil's Culzean gas field, BBC News, 31 August 2015.Accessed 1 September 2015.
  8. ↑ Largest field discovered in UK North Sea for 10 years approved for development Press release at Maersk Oil corporate website, 31 August 2015.Accessed 1 September 2015.
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