Total has agreed to purchase all of Chevron Denmark’s share capital, increasing its interest in the Danish Underground Consortium (DUC) and the Tyra West Pipeline.
The purchase, which is subject to the approval of partners and relevant authorities, will increase Total’s operated share of DUC to 43.2 per cent, with consortium partners Shell and Nordsøfonden holding 36.8 per cent and 20 per cent respectively.
DUC currently operates 15 fields in the Central Graben sector of the North Sea and covers nearly 90 per cent of the Danish oil and gas production, averaging 182,000 boe/d in 2017.
Total will acquire a 7.5 per cent interest in the Tyra West Pipeline, a 100 km long, 660 mm diameter natural gas subsea pipeline that connects the Danish and Dutch continental shelf pipeline systems
“Following the completion of the Maersk Oil acquisition, this deal is a great opportunity to further expand our presence on the Danish Shelf and increase our interest in an asset operated by Total, said Total Senior VP North Sea and Russia Michael Borrell.
“We will further benefit from the ongoing redevelopment of the Tyra field.
“This new transaction demonstrates our commitment to the development of the DUC and to the expansion of Total’s presence in Denmark.”
The Tyra gas field is currently under redevelopment, which was sanctioned by DUC in December 2017.
Its planned to be operational by 2022, when it will have a production capacity of 60,000 boe/d.
For more information visit the Total website.
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