Maersk Oil commits to Golden Eagle development

Offshore staff

ABERDEEN, UK – Maersk Oil has approved a $1 billion investment in the field development of Golden Eagle in the UK North Sea. Maersk Oil says first oil could come in 2014, depending upon partner and government approvals.

The Golden Eagle Area comprises the Golden Eagle and Peregrine fields; the Hobby discovery is now defined to be part of the Golden Eagle field. The fields were discovered 2007-2009 in block 20/1 located 110 km (68 mi) northeast of Aberdeen. The fields are operated by Nexen (36.5%) with Maersk Oil, Suncor, and Edinburgh Oil and Gas as partners.

Operator Nexen has estimated the Golden Eagle Area contains 140-150 MMboe in gross recoverable contingent resources.

06/17/2011



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