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The Culzean development

29th July 2015
  • Maersk Oil and its co-venturers are investing around £3 bn (USD 4.5 bn) in the Culzean development, with more than 50% committed to industrial investment in the UK. Over the projected life of the field, it is anticipated that £2.1bn (USD 3.3 bn) in operating expenditure will also be spent in the UK domestic market.
  • Forecast plateau production is in a range of 300-450 million standard cubic feet per day of gas, which represents Maersk Oil equity production of 30–45,000 boepd.
  • The field supports the UK’s transition to gas-fired electricity generation and is expected to support 6,000 UK jobs, and create more than 400 direct jobs.
  • The project benefits from the UK’s HPHT Cluster Area Allowance, which supports the development of such projects – which typically have considerably higher capital costs – and encourages exploration and appraisal activity in the surrounding area.
  • Maersk Oil UK (49.99%) is the operator of Culzean, with JX Nippon Exploration & Production (UK) Limited) (34.01%) and BP (Britoil Ltd) (16%) its co-venturers. It is located around 145 miles east of Aberdeen.
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