First oil from Golden Eagle

First oil has been produced from the Golden Eagle development in the UK North Sea, a project in which Maersk Oil holds a 31.56% stake. It will help Maersk Oil move towards its target of 400,000 barrels of oil per day production.

Golden Eagle
Located 70 kilometers northeast of Aberdeen, there are currently two Golden Eagle wells with potential to produce about 18,000 boepd. Photo: Nexen

Golden Eagle

  • Discovered in 2007 and located 70km north-east of Aberdeen
  • Operated by Nexen (36.54%)
  • Co-venturers are Maersk Oil UK (31.56%), Suncor Energy (26.69%) and Edinburgh Oil & Gas (5.21%)
  • Initial gross plateau production estimated at 70,000 boepd

Golden Eagle is just one of several Maersk Oil projects that should help it grow production towards a target of 400,000 boepd by 2020, provided investments give a 10% return.

Located 70 kilometers northeast of Aberdeen, there are currently two Golden Eagle wells with potential to produce about 18,000 boepd. It is expected to reach its peak production of about 70,000 boepd in 2015, with Maersk Oil’s share expected to be about 20,000.

Golden Eagle Oil
Golden Eagle is just one of several Maersk Oil projects that should help grow production.

“A project of this scale is important for the UK North Sea and for Maersk Oil - to deliver it safely, on time and on budget is an excellent performance,” said Martin Rune Pedersen, Managing Director of Maersk Oil UK said. “Today’s announcement represents a great achievement by the Golden Eagle project teams.”

Promising portfolio

Maersk Oil has several promising projects that will help it increase production, including one of Norway’s largest discoveries ever, Johan Sverdrup; Al Shaheen in Qatar; the UK’s Culzean; and Chissonga in Angola.

Two other projects will have first production in 2014/2015 – Jack in the US and the expansion of Tyra Southeast in the Danish North Sea.

Nexen Petroleum U.K. Ltd., a wholly-owned subsidiary of CNOOC Limited, is the operator of the Golden Eagle Development Area and has 36.54% interest. The remaining interests are held by Maersk Oil North Sea UK Ltd. (31.56%), Suncor Energy UK Ltd. (26.69%) and Edinburgh oil and Gas Ltd (5.21%).