This new investment will produce a mixture of oil and gas and is expected to add reserves and resources of 50 million barrels of oil equivalent during the next 30 years to the Danish development.
Maersk Oil Danish Business Unit managing director, Mark Wallace, said the expansion will be the largest investment by DUC partners since the approval of Halfdan phase four in 2007.
"This is the kind of investment needed to secure future Danish oil and gas production. The new host platform and wells will add significantly to our production, and we expect it to produce for the next 30 years," Wallace added.
"The Danish North Sea still contains significant oil and gas resources. However, the remaining oil and gas is becoming progressively more difficult to extract requiring efficient development, new technology and continued large investments."
The Tyra Southeast expansion project will involve development of the platform, pipelines and drilling of the wells.
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The platform is estimated to produce about 20 million barrels of oil and 170 billion standard cubic feet of gas, combined reserves and resources of 50 million barrels of oil equivalent. During peak production in 2017, the project is expected to deliver some 20,000 boed.
As the operator of DUC, Maersk Oil signed a contract with Danish contractor Bladt Industries to build the jacket (legs) and topside (platform) for the project.
The installation will be completed by the end of 2014, following which Maersk will drill 12 wells during 2015-2017, while each horizontal well will be about six kilometres long. First oil is expected to flow from the platform in the beginning of 2015.
Image: The project is expected to deliver nearly 20,000 boed during peak production in 2017. Photo courtesy of Maersk Oil.