The Culzean project
- Maersk Oil operates the Culzean development with a 49.99% interest. Its co-venturers are BP (Britoil) 32% and JX Nippon, 18.01%
- The field has resources estimated at 250-300 million barrels of oil equivalen
- 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
- Culzean was approved by the UK Oil & Gas Authority in August 2015
Continuous drilling activity is planned over the next five years and first gas is expected to be produced from Culzean in 2019.
The Maersk Highlander rig, a newbuild acquired by Maersk Drilling earlier this year, has a five-year contract valued at approximately USD 420 million, including a mobilization fee of USD 9 million.
“This is an important milestone in ensuring that we can deliver Culzean on schedule, and with it 5% of UK gas demand in 2020/21,” says Gretchen Watkins, CEO designate, Maersk Oil.
“It’s great to have Maersk Drilling as a partner and together we are working to ensure a safe drilling programme on this critical project for Maersk and the UK.”
The first well
Maersk Highlander is drilling the first production well through a wellhead platform (WHP) jacket – the stable platform that will be the basis of the production facility - and well access deck (WAD), which were successfully installed on location at the field in the spring of 2016.