Kenya goes alone with first oil targeting 2021 - plays catch-up with Uganda

Kenya was left at the pipeline “altar” in 2016 when Uganda decided to export its crude via a Tanzanian pipeline instead. The years of work around a joint Ugandan-Kenyan pipeline went to waste as the two countries could not agree on the development with security as well as political factors hindering co-operation between the two countries. Kenyan oil discoveries in the Lokichar Basin had been left in limbo with no export plan in sight. However,...

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Maersk Drilling exits Egyptian JV in line with strategy

Maersk continues to review and streamline its business portfolio. As part of that strategy, it announced today of its exit of the Egyptian rig company joint venture. Press release A.P. Møller - Mærsk A/S ("A.P. Moller - Maersk") and Egyptian General Petroleum Corporation ("EGPC") has today signed an agreement whereby EGPC will acquire A.P. Moller - Maersk’s 50 percent shareholding in Egyptian Drilling Company ("EDC") for USD 100m in an all-cash transaction. Following the transaction EGPC will become sole owner of EDC and will as part of the agreement...

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Breathing new life into Tyra

The Danish Underground Consortium ("DUC") has approved an investment of DKK21 billion (USD3.4 billion) for the full redevelopment of the Tyra field. DUC members are Total/Mærsk (31.2 %), Shell (36.8 %), Chevron (12 %) and Nordsøfonden (20 %). The development will ensure continued production from Denmark's largest field for years to come and will also rejuvenate important Danish offshore infrastructure. About 80% of the investment will be for modification...

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Kenya First Oil

On 9th October, a government spokesperson said that President Kenyatta had held meetings with the Lokichar Basin oil companies (Tullow, Africa Oil, Maersk) on the Early Oil Pilot Scheme (“EOPS”). The EOPS has already received FID and will produce 2,000bbl/d, starting in June 2017. The oil will be trucked from the Lokichar Basin to Mombasa. The EOPS will allow the partners to establish a production history, providing valuable dynamic reservoir...

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Support for the Danish DUC

On Wednesday 21st September Lars Christian Lilleholt, the Danish energy minister said that the government is determined to find an economically viable solution that will allow the Trya complex to continue production. This follows Maersk Oil’s announcement in April that it would cease production at the Tyra complex if no solution to extend its economic life during 2016. The Tyra complex is operated by Maersk Oil on behalf of the DUC, a partnership...

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