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4 years ago
Makers, DUC partners to invest $800 mln in N.Sea platform
April 5, 2013 / 5:35 AM / 4 years ago

Makers, DUC partners to invest $800 mln in N.Sea platform

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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.

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