Maersk Oil approves Golden Eagle development in UK North Sea

Maersk Oil North Sea UK Ltd. has approved its $1 billion share of the investment in the Golden Eagle area development on Block 20/1 in the UK North Sea. Nexen Petroleum UK Ltd. is the operator of the $3.3 billion development.

By OGJ editors
HOUSTON, June 20
-- Maersk Oil North Sea UK Ltd. has approved its $1 billion share of the investment in the Golden Eagle area development on Block 20/1 in the UK North Sea. Nexen Petroleum UK Ltd. is the operator of the $3.3 billion development.

Maersk said subject to partner and regulatory approvals, construction of a platform and other infrastructure will begin in November. The company expects first oil in 2014 at an initial 60,000-65,000 b/d.

The Golden Eagle area includes Golden Eagle and Peregrine fields. Peregrine was known as Pink, while the Hobby discovery on Block 20/1N is now defined as part of Golden Eagle field (OGJ Online, Feb. 17, 2009).

The fields, discovered in 2007-09, are about 110 km northeast of Aberdeen in 90-120 m of water.

Nexen has estimated the Golden Eagle area contains 140-150 million boe of recoverable contingent resources, making it one of the largest oil discoveries in the UK North Sea in recent years.

Nexen holds a 36.5% interest in the development. Its partners are Maersk Oil 31.56%, Suncor Energy UK Inc. 26.69%, and Edinburgh Oil & Gas Ltd. 5.25%.

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