Sunday, October 22, 2017

Maersk Needs Quick Deal to Avoid Tyra Shut Down

Posted by March 16, 2017

Carsten Sonne-Schmidt, chief financial officer of Maersk Oil, a unit of Danish conglomerate A. P. Moller-Maersk, told Reuters on a sidelines of an energy conference on Thursday:

 
  • Maersk Oil must have a deal with the Danish government "within a few months" to avoid shutting down Tyra platform, a source of about 90 percent of Danish gas
  • Sonne-Schmidt: "If we don't have a solution within a few month, then we will have to go ahead with the partial redevelopment of the field"
  • "We will be shutting the Tyra platform, but then tying some of the existing wells to other platforms"
  • "That means we will see a fast decline in gas production. We will not be able to supply Denmark with gas for decades"
  • Said the agreement with the government over "fiscal incentives" would allow to fully redevelop the Tyra field extending the production from the Tyra and nearby fields
  • "It's a win-win situation. Personally, as an economist, I'm optimistic," Sonne-Schmidt said about the prospects of reaching an agreement with the government" Further company coverage:

 

Reporting by Nerijus Adomaitis

Related News