AP Moeller Maersk A/S, DUC Partners To Invest $800 Million In N.Sea Platform-Reuters
Reuters reported that the oil and gas unit of Danish oil and shipping group AP Moeller Maersk A/S and its partners will invest $800 million 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%), Royal Dutch Shell PLC, Nordsofonden (20%) and Chevron Corp (12.0%). The project schedule aims to have first oil early in 2015.
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