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Economy

Maersk Oil, partners to invest in North Sea gas field

Date: Dec 1, 2017

Maersk Oil, part of Denmark's A.P. Moller-Maersk, and its partners in the Danish Underground Consortium (DUC) has decided to invest 21 billion Danish Crowns ($3.36 billion) in redeveloping the Tyra gas field in the North Sea.

The investment, the largest ever in the Danish part of the North Sea, will enable Tyra to continue operations for at least 25 years, and to deliver around 60 000 barrels of oil equivalent per day at its peak, Maersk Oil said.

France's Total agreed in August to buy Maersk's oil and gas business in a $7.45 billion deal.

The other partners in DUC are Shell, Chevron and Denmark's state-owned Nordsofonden.

($1 = 6.2468 Danish Crowns)

--Reuters--