Maersk MARKETS PEOPLE HARDWARE INDUSTRIES INVESTOR RELATIONS THE MAERSK GROUP SEARCH MAERSK OIL CASE STORY HARDWARE Share LinkedIn Twitter Facebook Weibo Print Email Where others gave up Maersk Oil got 40 million barrels 30 May, 2014 Maersk Oil has a reputation for producing oil and gas from mature fields that others have given up on. Industries Life in a desert sea In the UK North Sea, for example, the company has redeveloped a field to produce an additional 45 million barrels of oil and generate some USD 4.2 billion in revenue in just five years. In 1997 BP and its partners abandoned the Donan oilfield, as it was then named, situated 235 kilometres north east of Aberdeen, after it had produced some 15 million barrels. Low oil prices and issues with development wells had made the field unviable. But in 2005, Maersk Oil acquired the field, renamed Dumbarton, as part of the acquisition of Kerr-McGee’s UK assets. “We looked at the seismic surveys of Dumbarton, and an adjacent field called Lochranza. Although we had the same seismic as BP, we reinterpreted the data in a new way, which is why we saw the potential for further development of both fields,” says Steve Daines, then director of exploration for Maersk Oil UK. Even further potential "In particular, we saw a new area of untapped potential which had not been developed in the original field. The appraisal well result on the abandoned field was very positive, and this was the first step in realising that the project could be a commercial success," Mr Daines continues. Dumbarton and Lochranza have been producing around 20,000 barrels a day via the Global Producer 3 FPSO vessel. The Dumbarton area will continue to be an important part of Maersk Oil’s UK portfolio for years to come as new potential is identified. And Maersk Oil’s commitment to this previously abandoned hub is so strong that in 2012 the company assumed 100% ownership over both the Dumbarton field and the GP3. Share LinkedIn Twitter Facebook Weibo Industries Life in a desert sea People Getting to know the whole company Markets Tracking the clues to a hidden underground Markets UK approves development of Maersk Oil’s Culzean Visit our companies Prev Next Maersk social Join Maersk on social platforms FACEBOOK TWITTER LINKEDIN FLICKR TUMBLR YOUTUBE 1 2 A.P. Moller - Maersk A.P. Moller - Maersk is an integrated transport and logistics company with multiple brands and is a global leader in container shipping and ports. Including a stand-alone Energy division, the company employs roughly 88,000 employees across operations in 130 countries. A.P. Moller - Maersk About Us Career Sustainability Press Room Procurement Investor relations Quick Links Vacancies at Maersk Press Release Archive About Us Newsletter Sign up for our newsletter SIGN UP MAERSK THE MAERSK GROUP ALL RIGHTS RESERVED 2015 ABOUT THIS SITE CONTACT US LEGAL NOTICE PRIVACY POLICY Use of cookies on maersk.com Maersk.com uses cookies and the like for the purposes of statistical analysis, improving the friendliness and usability of our website, tailoring content to your interests and engaging with social media. By visiting our website, you consent to our and third party use of cookies as described in our privacy and cookie policy. READ MORE ABOUT COOKIES ACCEPT AND CLOSE Close