Oil & Gas UK, an organization representing offshore oil and gas companies in the UK, has welcomed the development approval of the Maersk Oil-operated Culzean field in the UK North Sea.
To remind, UK Oil & Gas Authority approved Monday the development of the Culzean field, which has been described as the largest new field discovered in the UK North Sea in more than a decade.
Commenting on the approval, Oil & Gas UK’s chief executive, Deirdre Michie, said:
“Oil & Gas UK welcomes the development approval of the largest new field discovered in the UK North Sea in more than a decade.”
“Maersk Oil’s Culzean field is expected to produce enough gas to meet five per cent of total UK demand at peak production. This is positive news indeed, as according to figures from the Department for Energy, the country’s primary demand for oil and gas, critical for our transport and heating and powering our homes, will remain unchanged until 2030 at least.”
“This investment by Maersk Oil and its co-venturers, in this technically demanding High Pressure High Temperature field, is very encouraging at this challenging time for the industry and reinforces the fact that that the UK Continental Shelf continues to have much to offer.”
Right after the approval, Maersk Oil, based in Denmark, started awarding contracts for the development.
Singapore’s Sembmarine has won a $1 billion contract to build offshore facilities for this high-pressure high-temperature gas field. Furthermore, Subsea 7 said Tuesday it had won the award of a subsea, umbilical, riser and flowline (SURF) contract worth more than $150 million.
Offshore Energy Today Staff