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

MAERSKa.CO on Copenhagen Stock Exchange

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Latest Key Developments (Source: Significant Developments)

Maersk Drilling announces delivery of Maersk Intrepid and contract with Total E&P Norge AS
Monday, 31 Mar 2014 08:00pm EDT 

AP Moeller Maersk A/S' Maersk Drilling:Takes delivery of its first ultra harsh environment jack-up, Maersk Intrepid, from the Keppel FELS shipyard in Singapore on time.Maersk Intrepid will start its mobilisation to the Norwegian North Sea in about two weeks.The jack-up will commence a four year contract with Total E&P Norge AS.The contract includes four one-year options.Estimated contract value for the firm contract is $550 million.Maersk Intrepid is the first in a series of four newbuild ultra harsh environment jack-up rigs to enter Maersk Drilling’s rig fleet in 2014-2016.The first three jack-up rigs, including Maersk Intrepid, will be delivered from the Keppel FELS shipyard in 2014-2015, and the fourth will be delivered from the Daewoo Shipbuilding and Marine Engineering (DSME) shipyard in South Korea in 2016.  Full Article

Lundin Petroleum completes drilling of Johan Sverdrup appraisal wells 16/3-8 S and 16/3-8 S T2 in license shared with Statoil and AP Moeller Maersk
Thursday, 27 Mar 2014 03:31am EDT 

Lundin Petroleum AB:Says its wholly owned subsidiary Lundin Norway AS completes the Johan Sverdrup appraisal wells 16/3-8 S and 16/3-8 S T2, located in the eastern part of PL501 shared with Statoil ASA and AP Moeller Maersk A/S.Appraisal well 16/3-8 S is located on the Avaldsnes High, in the eastern part of the Johan Sverdrup discovery.The well was drilled approximately four km south-east of the discovery well 16/2-6 and approximately three km west of appraisal well 16/3-4.The purpose of the well was to investigate the thickness and quality of the late Jurassic Draupne sandstone reservoir as well as the Permian Zechstein carbonates.The well 16/3-8 S also encountered 67 meters of Zechstein carbonates with variable, but mostly tight, reservoir quality with oil shows.The oil water contact is interpreted at 1,925 meters below mean sea level (MSL) with oil sampled at 1,924.5 meters below MSL.Lundin Norway is the operator in PL501 with a 40 percent interest.The partners are Statoil Petroleum AS with 40 percent interest and Maersk Oil Norway AS with a 20 percent interest.  Full Article

AP Moeller Maersk A/S proposes dividend of 1,400 Danish crown per share
Wednesday, 26 Feb 2014 07:00pm EST 

AP Moeller Maersk A/S:Proposes dividend to the shareholders of 1,400 Danish crown per share of 1,000 Danish crown.Payment is expected to take place on April 4.  Full Article

Lundin Petroleum AB's subsidiary completes side-track well on Torvastad Prospect on license shared with Statoil ASA and AP Moeller Maersk A/S' subsidiaries
Tuesday, 11 Feb 2014 02:33am EST 

Lundin Petroleum AB:Says its subsidiary Lundin Norway AS announced that side-track well 16/2-20A on Torvastad target on PL501, shared with subsidiaries of Statoil ASA and AP Moeller Maersk A/S, in North Sea sector of Norwegian Continental Shelf (NCS), has been completed.Says wireline logging of Torvastad side-track well 16/2-20A has been completed and has confirmed encountered reservoir to be non-commercial.Says main well 16/2-20S explored Torvastad target located in PL501 immediately north of Johan Sverdrup discovery and was announced to have found water bearing Jurassic sandstone with oil shows.Says side-track well 16/2-20A was drilled 770 meter towards west to investigate presence of up-flank oil bearing Jurassic reservoir rock.Says well 16/2-20A found a 19-meter Cretaceous/upper Jurassic age sequence with poor reservoir properties above a water-bearing Jurassic sandstone sequence of about eight meters of moderate quality.Says expected thinning of lower Cretaceous/upper Jurassic sequence was not present and Jurassic reservoir sequence came in deeper than expected.Says comprehensive age dating of Jurassic reservoir rocks in wells 16/2-20S and 16/2-20A indicates Middle to Lower Jurassic age.Says well 16/2-20A was drilled to a total depth of 2,028 meters below mean sea level into basement rocks.Says Lundin Norway is operator in PL501 with 40 percent interest and the partners are Statoil Petroleum AS with 40 percent interest and Maersk Oil Norway AS with 20 percent interest.  Full Article

AP Moeller Maersk's Maersk Tankers utilizes option to order two MR vessels-Reuters
Monday, 10 Feb 2014 02:34am EST 

AP Moeller Maersk A/S:Says Maersk Tankers utilizes option to order two new build medium-range (MR) vessels from South Korean shipyard Sungdong Shipbuilding & Marine Engineering Co., Ltd.-Reuters.Says Maersk Tankers ordered four MR vessels with an option of further two vessels in Nov. 2013 – this option has now been utilized.Says the expected delivery of all six vessels is 2016 and 2017.The price of the vessels was not disclosed.  Full Article

Lundin Petroleum AB's subsidiary completes side-track well on Torvastad prospect on license shared with Statoil ASA and AP Moeller Maersk A/S' subsidiaries
Tuesday, 28 Jan 2014 02:08am EST 

Lundin Petroleum AB:Says its subsidiary Lundin Norway AS announced that side-track well 16/2-20A on Torvastad prospect on PL501, shared with Statoil ASA and AP Moeller Maersk A/S’ subsidiaries, in the North Sea sector of Norwegian Continental Shelf, is in the process of being completed.Says the well 16/2-20A has been drilled as a side-track 770 meters west of the main Torvastad exploration well 16/2-20S, to investigate the potential of an up-flank continuous Jurassic reservoir.Says the reservoir section has been cored with oil shows, but demonstrates poor reservoir quality.Says wireline logging is ongoing and preliminary results confirm the core observations and further wire-line logging is required to confirm the initial results.Says Lundin Norway is the operator of PL501 with 40 percent interest and the partners are Statoil Petroleum AS with 40 percent interest and Maersk Oil Norway with 20 percent interest.Says once the logging of the well has been completed, the Island Innovator rig will move to PL338 to drill the Edvard Grieg South East appraisal well 16/1-18.  Full Article

AP Moeller Maersk A/S's unit receives shareholding in oil licenses-Ritzau
Tuesday, 21 Jan 2014 08:08am EST 

AP Moeller Maersk A/S:Says its unit Maersk Oil received shareholding in five oil licenses in Norway in the TFO 2013 round-Ritzau.Says it has received operatorship in one of the five licenses, in the PL732 license in the North Sea, with 60 percent interest with Suncor as partner.Receives 35 percent in the PL 728 in the North Sea with Dong Energy holding 45 percent and Petoro 20 percent.Says the remaining three licenses are in the Barents sea, where it received 40 percent in PL764, 40 percent of PL766 and 20 percent of PL765, with Lundin Petroleum, Bayerngas and Statoil as partners.  Full Article

AP Moeller Maersk's Maersk Oil announces deal for two exploration blocks in Kurdistan region of Iraq
Monday, 13 Jan 2014 07:00pm EST 

AP Moeller Maersk A/S' Maersk Oil:Says the Kurdistan Regional Government has approved Maersk Oil’s acquisition of a 40-percent non-operating interest in the Piramagrun and Qala Dze Production Sharing Contracts from Repsol Oriente Medio S.A.Says Repsol will continue to operate exploration activities and also hold a 40 percent interest and the Kurdistan Regional Government will hold the remaining 20-percent share of each block.Says the Piramagrun and Qala Dze blocks are located about 150 kilometres east of Erbil, the regional capital of Kurdistan.  Full Article

AP Moeller Maersk sells shares in Dansk Supermarked A/S and F. Salling A/S
Tuesday, 7 Jan 2014 01:58am EST 

AP Moeller Maersk A/S (APMM):Sells shares in Dansk Supermarked A/S and F. Salling A/S to F. Salling Invest A/S and F. Salling Holding A/S (jointly the Salling Companies).Says the Salling Companies will acquire 48.68 percent of the shares in Dansk Supermarked A/S and 18.72 percent of the shares in F. Salling A/S.Says five years after closing of the transaction the Salling Companies have a call option on the remaining 19 percent in each of the Companies owned by APMM and APMM has a put option for its remaining shares in each of the companies.Says total enterprise value for the companies is 41 billion Danish crowns.Says the accounting gain for the APMM Group is expected to be about 14 billion Danish crowns depending on the timing of closing of the transaction.Says the transaction will generate cash proceeds of about 17 billion Danish crowns.Says closing is expected to take place during H1 2014.  Full Article

Lundin Petroleum AB spuds appraisal well 16/3-8S on Johan Sverdrup Discovery in license shared with Statoil ASA and AP Moeller Maersk A/S' subsidiaries
Friday, 3 Jan 2014 03:18am EST 

Lundin Petroleum AB:Says it has, through its wholly owned subsidiary Lundin Norway AS, commenced drilling of the appraisal well 16/3-8S on the Johan Sverdrup discovery located in the North Sea sector of the Norwegian Continental Shelf (NCS) in license shared with Statoil ASA and AP Moeller Maersk A/S subsidiaries.Says well is located on PL501 at the crest of Avaldsnes High in eastern part of the discovery with objectives to establish depth, quality and thickness of Zechstein group carbonates of Permian age and investigate Jurassic reservoir sequences about 3.9 kilometers south-east of discovery well 16/2-6.Says well 16/3-8S is expected to provide information of the Zechstein group carbonates sub-cropping the Jurassic reservoir in the Avaldsnes High area of the Johan Sverdrup discovery.Says the planned total depth is about 2,025 meters below mean sea level and the well will be drilled using the semi-submersible drilling rig Bredford Dolphin.Says the drilling operation is expected to take about 45 days.Says Lundin Petroleum is the operator of PL501 with 40 percent interest.Says the partners are Statoil Petroleum AS with 40 percent interest and Maersk Oil Norway with 20 percent interest.  Full Article

Maersk's APM Terminals to sell container terminal in Virginia

COPENHAGEN, July 22 - Port operator APM Terminals, a unit of Denmark's A.P. Moller-Maersk, said it would sell a big U.S. container terminal to infrastructure investor Alinda Capital Partners and a British private pension fund.

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