MAERSK - West Greenland Block 9
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Name of Client |
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Estimated Budget ($ US) |
3,000,000,000 |
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Facility Type |
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Sector |
Oil |
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Status |
Feasibility Study |
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Location |
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Last Updated |
16-10-2012 |
Project Status
As of end November 2010, Greenland announced that Maersk Oil has been awarded a license covering Block 9 in Baffin Bay, offshore West Greenland.
Maersk Oil, recognizing the sensitive environment of the region, is committed to running a safe and responsible operation in Greenland. Any drilling activity will not start for another 3-5 years and will commence only after all environmental aspects of the operation have been fully assessed and addressed.
Maersk Oil will immediately begin work on plans to establish a field research facility located in the Baffin Bay area, to be made available for use to the authorities, the industry and the scientific community at large. In this way, Maersk Oil hopes the facility will be of benefit to Greenland and the environment as a whole.
Maersk Oil now plans to acquire, process and interpret quality seismic data. If exploration activities lead to the discovery of commercially viable field development, oil production could commence in 10-15 years from now.
Tullow Oil has announced that Naalakkersuisut, Greenland’s Government, has approved an agreement with Maersk Oil for Tullow to take a non-operated 40 per cent equity position in Block 9 (Tooq license), Baffin Bay, north-western Greenland.
The Tooq license covers an area of 11,802 sq kms and the work programme for 2012-2014 includes the acquisition and processing of 3D seismic data. Seismic acquisition of some 1,850 sq kms has been completed following the submission and approval of a full Environmental Impact Assessment and the results are being evaluated.
The decision whether or not to enter the next phase and drill an exploration well on the Tooq license will be made after the seismic evaluation has been completed.
Oct 2012 Tullow Oil announced farm-in agreement with Maersk Oil (Topco)
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