Huge North Sea gas field threatened by sinking seabed

Danish Underground Consortium (DUC) headed by Shell and Maersk is facing servere technical challenges. Very soon, DUC must decide if Denmark's largest gas field in the North Sea must be shot down as a result of the seabed below sinking several meters.

Photo: Maersk Oil, Pressefoto

A dark prospect now looms over the country of Denmark, which is at risk of losing income worth billions from the North Sea as well as future production corresponding to 300 million barrels of oil with a current trading value of approximately USD 10.7 billion. The root of this danger is that DUC within the next year must choose between making investments of more than USD 4.3 billion or closing Denmark's largest gas field.

According to senior analyst Jacob Pedersen of Sydbank, it is likely that the Maersk- and Shell-headed DUC will choose to shut down, due to the crisis in the oil industry, instead of injecting huge amounts of new funds into Tyra and the nearby fields.

Already a subscriber? Log in.

Read the whole article

Get access for 14 days for free.
No credit card is needed, and you will not be automatically signed up for a paid subscription after the free trial.

  • Access all locked articles
  • Receive our daily newsletters
  • Access our app
An error has occured. Please try again later.

Get full access for you and your coworkers.

Start a free company trial today

More from ShippingWatch

Further reading

Related articles

Latest news

See all jobs