cookies >> Media Investor Relations Contact Us Careers Technology Operations Sustainability About us Maersk Oil > About Us > History About us How we work Vision Values History Fact sheet Executive Team Contact Us HISTORY How it all began Maersk Oil is part of the A.P. Moller - Maersk Group and was established in 1962 after the group was awarded a concession for oil and gas exploration and production in Denmark. The company is independent and operates oil production of about 557,000 barrels per day and gas production of up to 1,000 million cubic feet per day. Between 1960 -1963, A.P. Møller applied for an oil exploration concession in Denmark, formed the Dansk Undergrunds Consortium (DUC) with Shell and Chevron, and established Maersk Oil's forebearer, Dansk Boreselskab. The extension of the concession area in the Danish North Sea shelf laid the groundwork for further development of oil and gas in the Danish sector. In 1963-1973, attention was increasingly directed towards the delimitation of the Danish North Sea shelf area and initial exploration. The DUC soon made its first discovery and the Dan Field, the first in Denmark, came on stream in the summer of 1972. Extensive development During the years of high oil prices, 1973-1985, the DUC extensively developed the production system in its Danish North Sea fields. It also entered into a major gas sales agreement with the Danish State which then reduced the size of the A.P. Møller concession. The oil price falls from 1985 onward triggered a focus on technological innovation, which now forms the basis of Maersk Oil's significant progress. The successful development of the tight Danish reservoirs gave Maersk Oil confidence to take on Qatar's challenging Al Shaheen field in 1992 and to expanded geographically to a number of regions. Maersk Oil is now producing oil from the Danish and UK sections of the North Sea, Qatar, Algeria and Kazakhstan. It conducts exploration activities in those areas as well as offshore Norway, the U.S. Gulf of Mexico, Brazil and Angola . maerskoil.com| © A.P. MOLLER - MAERSK GROUP | All rights reserved. Legal notice Privacy policy About this site