Key Developments: AP Moeller - Maersk A/S (MAERSKa.CO)

MAERSKa.CO on Copenhagen Stock Exchange

4 Sep 2015
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Latest Key Developments (Source: Significant Developments)

Maersk wins UK approval for production at North Sea's Culzean gas field
Monday, 31 Aug 2015 03:00am EDT 

AP Moeller Maersk A/S:Maersk Oil has received approval by the UK's Oil & Gas Authority to develop the largest gas field discovered in the UK North Sea in more than a decade, the Danish oil company said on Monday.The Culzean field is expected to produce enough gas to meet five percent of total UK demand at peak production in 2020/21.Discovered in 2008, Maersk Oil and its co-venture partners, JX Nippon JXHLY.PK and BP Plc BP.L will invest around £3 billion ($4.63 billion) in the development.Maersk Oil, a unit in Denmark's shipping and oil group A.P. Moller-Maersk MAERSKb.CO, said the gas condensate field contains an estimated 250-300 million barrels of oil equivalent.Production is expected to start in 2019 and continue for at least 13 years, with plateau production of 60,000-90,000 barrels of oil equivalent per day.Maersk Oil said last week it would seek regulatory permission to shut its Janice installation, which produces around 7,000 barrels per day from three UK North Sea oilfields, due to falling oil prices.  Full Article

AP Moeller Maersk unit Svitzer places order for six tugboats at Sanmar Shipyard-Reuters
Wednesday, 26 Aug 2015 06:25am EDT 

Svitzer, a unit in AP Moller-Maersk:Svitzer signs contract with Sanmar Shipyard in Turkey to build six tug vessels-Reuters.Delivery of the first tugs expect in fourth quarter 2016.The new fleet will be 70 Tonne bollard pull RAstar 2800-E Class ASD tugs.  Full Article

AP Moeller Maersk to invest $200 mln in port in Colombia-Reuters
Thursday, 13 Aug 2015 05:10am EDT 

AP Moeller Maersk A/S:Says subsidiary APM Terminals to invest $200 million in upgrades and equipment to handle post-panamax vessels in Colombia-Reuters.Says APM Terminals has signed a joint venture agreement to jointly manage and operate Compas S.A.'s existing multipurpose Cartagena terminal in Colombia.While Compas S.A. will continue to be the concession holder, APM Terminals will hold a 51 percent majority share in the joint venture that will run the facility.  Full Article

AP Moeller Maersk maintains FY 2015 guidance; launches buy-back programme
Thursday, 13 Aug 2015 02:56am EDT 

AP Moeller Maersk A/S:Keeps outlook for FY 2015 of an underlying net profit of around $4 billion.Says to launch a share buy-back programme of up to $1 billion.  Full Article

Maersk Drilling gets $16 mln rig contract
Monday, 10 Aug 2015 03:50am EDT 

AP Moeller Maersk A/S:Maersk Drilling, a unit of shipping and oil firm A.P. Moller-Maersk MAERSKb.CO has received a contract for the jack-up rig Maersk Giant with Danish energy company Dong.The firm contract covers 150 days of work on the Nini and Siri fields in the Danish part of the North Sea. The estimated contract value is $16 million it said.  Full Article

AP Moeller Maersk A/S gets $142 mln in Norway rig extension
Monday, 27 Jul 2015 03:03am EDT 

AP Moeller Maersk A/S:Says Maersk Drilling has been awarded a contract extension for the jack-up rig Maersk Innovator with ConocoPhillips COP.N for work on the Eldfisk field offshore Norway.Says duration of the contract extension is 16 months.Says the estimated value of the contract extension is $142 million.  Full Article

AP Moeller Maersk: Maersk Drilling gets $523 mln extension on Azerbaijan rig
Thursday, 16 Jul 2015 08:00pm EDT 

AP Moeller Maersk A/S:Maersk Drilling extends contract for rig with BP for the Shah Deniz field in Azerbaijan.Maersk Drilling contract extended until May 2021 and worth $523 million.The rig will continue working on the development of the Shah Deniz field in the Caspian Sea offshore Azerbaijan.  Full Article

Maersk Line to share vessels with MSC and MOL in Asia-S.America-Reuters
Monday, 18 May 2015 06:18am EDT 

AP Moeller Maersk A/S:Maersk Line has entered into vessel sharing agreement with Switzerland-based Mediterranean Shipping Company (MSC) and Japan's Mitsui O.S.K Lines (MOL)-Reuters.Agreement regards routes between Asia and the east coast of South America.The VSA will include 22 vessels on a two looped routes.  Full Article

Maersk says gives Iran letter of undertaking over seized vessel-Reuters
Wednesday, 6 May 2015 08:30am EDT 

AP Moeller Maersk A/S:Maersk Line has provided a letter of undertaking in relation to uncollected cargo that has led to the seizure by Iranian authorities of the vessel Maersk Tigris-Reuters.Iran said earlier on May 6 a legal settlement could be reached soon over its seizure of the Marshall-Islands flagged Maersk Tigris container ship in the Strait of Hormuz last month.  Full Article

AP Moeller Maersk meets Iranian officials over vessel, says no progress-Reuters
Monday, 4 May 2015 04:31am EDT 

AP Moeller Maersk A/S:Maersk Line said on May 4 it has met again with the Ports & Maritime Organization (PMO) in Iran regarding the seizure of the vessel Maersk Tigris-Reuters.Has still not received any official documents from Iranian authorities.Reiterates that it is not the owner of the vessel, which is unconnected to any cargo dispute, and therefore insists again the crew and vessel be released as soon as possible.  Full Article

Brazil requests more information from Maersk in Petrobras probe

SAO PAULO, Sept 2 - Denmark's shipping and oil group A.P. Moller-Maersk said one of its employees in Brazil received a request from authorities last month to provide additional information for a corruption investigation at state-run oil firm Petrobras.

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