The development of the largest new field discovered in the UK North Sea for a decade has been approved by the UK Oil & Gas Authority. The Maersk Oil-operated high-pressure/high-temperature (HP/HT) Culzean field in the UK Central North Sea is expected to produce enough gas to meet 5% of total UK demand at peak production in 2020/2021. Culzean is also the largest gas field sanctioned since East Brae in 1990.
Discovered in 2008 by Maersk Oil and co-venturers JX Nippon and BP (Britoil), the gas condensate field has resources estimated at 250–300 million barrels of oil equivalent. Production is expected to start in 2019 and continue for at least 13 years, with plateau production of 60,000–90,000 barrels of oil equivalent per day.
Maersk Oil and its co-venturers are investing around £3 billion ($4.5 billion) in the development, with more than 50% committed to investments in the UK.