Maersk Oil (Danish: Mærsk Olie og Gas A/S) was a Danish oil and gas company owned by the A. P. Moller-Maersk Group. with a maximum operated production of 550,000 barrels of oil equivalent per day. Production came from Denmark, the UK, Qatar, Kazakhstan, the US Gulf of Mexico, Algeria and Brazil. The company had exploration activities in Angola, Norway, Greenland, Kurdistan Region of Iraq and in the producing countries.
North Sea oil and gas platform Tyra East, operated by Maersk Oil.
|Mærsk Olie og Gas A/S|
|Industry||Oil and Gas|
|Founded||Copenhagen, Denmark 1962|
Number of locations
|550,000 of BOE (2015)|
Number of employees
|Footnotes / references|
The company was established in 1962 when Maersk Group was awarded a concession for oil and gas exploration and production in the Danish sector of the North Sea. In 1986, Maersk Oil took over the operation of the Dansk Undergrunds Consortium's fields in the Danish section of the North Sea.
On August 31, 2015, the UK Oil And Gas Authority approved a consortium headed by Maersk Oil going ahead with production at the Culzean oil and gas field about 150 miles southeast of Aberdeen, Scotland in the North Sea. The high pressure, high temperature field holds the equivalent of about 300 million barrels of oil and, when it reaches peak production in 2020 or 2021, is expected to produce enough gas to meet 5% of the UK's needs. Maersk Oil said that it and its other consortium partners, JX Nippon and BP (Britoil) would invest about £3 billion (about $4.5 billion) in the field's development.
On August 21, 2017, A.P. Møller - Mærsk A/S announced the signing of an agreement to sell Mærsk Olie og Gas A/S to Total S.A. for US$7.45 billion in a combined share and debt transaction. The transaction was subject to regulatory and competition approval and was closed on 8 March 2018, when Maersk Oil became a part of Total.
On September 20, 2017, A.P. Moeller-Maersk A/S agreed to sell its tankers unit to the A.P. Moller Holding A/S subsidiary APMH Invest A/S, which was the controlling shareholder of A.P. Moller-Maersk. Maersk had owned the tanker business since 1928, which at the time of the sale, had a fleet of 161 vessels to transport refined oil products.
- "The Maersk Group - Annual Report 2015" (PDF). Retrieved 14 February 2016.
- "Maersk Oil Company Profile 2014" (PDF). Retrieved 14 February 2016.
- "Maersk Oil Fact Sheet". Retrieved 14 February 2016.
- "History of Maersk Oil". Retrieved 14 February 2016.
- "Maersk Annual Magazine 2015" (PDF). Retrieved 16 February 2016.
- Hahn-Pedersen, Morten (1999). A.P. Møller and the Danish oil. Schultz Forlag. p. 217. ISBN 978-87-609-0465-3.
- Production approved for Maersk Oil's Culzean gas field, BBC News, 31 August 2015. Accessed 1 September 2015.
- Largest field discovered in UK North Sea for 10 years approved for development Press release at Maersk Oil corporate website, 31 August 2015. Accessed 1 September 2015.
- Total S.A. to acquire Mærsk Olie og Gas A/S, Maersk, August 21, 2017
- A.P. Moller - Maersk has today completed the sale of Maersk Oil to Total, Maersk, March 8, 2018
- Chopping, Dominic; Paris, Costas. "Maersk to Sell Tankers Business for $1.17 Billion". Wall Street Journal. New York City, New York, United States. Retrieved September 21, 2017.