EnergyWatch

North Sea government deal is a double win for Maersk

A new tax deal for North Sea oil activities means Maersk Oil can both renovate its Tyra field and score a big tax discount on a huge, undeveloped gas field.

Maersk Oil henter i dag gas op under ekstreme temperaturer og tryk fra Culzean-feltet 200 km øst for skotske Aberdeen. Den ekspertise kan bruges på Svanefeltet, hvor gassen skal hentes op fra dybder på mellem 5 og 6 km under havbunden.

A field with enough gas to cover Denmark's consumption for over 25 years could end up in the hands of Maersk after a new North Sea deal with the Danish government.

This means that Maersk, Denmark's largest company, could end up winning double from the new tax agreement. For one, Maersk currently extracts gas from the large Tyra field and the North Sea Agreement ensures that the field's facilities will be reconstructed with funds of up to DKK 30 billion. However the deal also gives Maersk a strong financial incentive to initiate the development of the Svane field, which holds vast untapped quantities of gas.

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