Makers, DUC partners to invest $800 mln in N.Sea platform
COPENHAGEN, April 5
COPENHAGEN, April 5 (Reuters) - The oil and gas unit of Danish oil and shipping group A.P. Moller-Maersk said on Friday the company and its partners will invest $800 mln in a new platform in the North Sea.
The unit, Maersk Oil, said in a statement the investment by Danish Underground Consortium (DUC) is expected to add reserves and resources of 50 million barrels of oil equivalent over the next 30 years to Danish production.
DUC is the partnership between A.P. Moller-Maersk (31.2 pct), Shell (36.8 pct), Nordsofonden (20 pct) and Chevron (12.0 pct).
The project schedule aims to have first oil early in 2015, it said in the statement.
DAVOS, Switzerland - Central banks have done their best to rescue the world economy by printing money and politicians must now act fast to enact structural reforms and pro-investment policies to boost growth, central bankers said on Saturday.