Maersk Oil

Maersk Oil
Mærsk Olie og Gas A/S

Type	private
Industry	oil and gas industry
Founded	1962 (1962)
Founder(s)	A. P. Moller-Maersk Group
Headquarters	Copenhagen, Denmark
Products	petroleum natural gas
Parent	A. P. Moller-Maersk Group
Website	maerskoil.com

Maersk Oil (Danish: Mærsk Olie og Gas A/S) is a Danish oil and gas company owned by the A. P. Moller-Maersk Group. 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 operatorship of the Dansk Undergrunds Consortium-owned fields in the Danish section of the North Sea.^[1]

Maersk Oil is engaged in exploration for and production of oil and natural gas in the North Sea Danish, British, German and Norwegian sectors, Qatar, Algeria, Kazakhstan, Angola, Gulf of Mexico (US sector), Turkmenistan, Oman, Morocco, Brazil, Colombia and Suriname. Most of these activities are not 100% owned, but are via membership in a consortium.

Total oil production is more than 600,000 barrels per day (95,000 m³/d) and gas production is up to some 1 billion cubic feet per day (28×10^⁶ m³/d). Most of this production is from the North Sea, from both the Danish and British sectors, but there is also production in offshore Qatar, in Algeria, in Kazakhstan and in Turkmenistan.

Maersk Oil has been preliminarily awarded two new exploration licenses, PL472 and PL474, in Norway's latest licensing round in February 2008.

Oil and gas activities provided A.P. Moller - Maersk with 22% of its revenue and 68% of its profit in 2008.

References

1. ^ Hahn-Pedersen, Morten (1999). A.P. Møller and the Danish oil. Schultz Forlag. p. 217. ISBN 9788760904653. http://books.google.com/books?id=rHY4yEBHPEQC&pg=PA217.