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August 29, 2015 3:00 PM ET

Oil, Gas and Consumable Fuels

Company Overview of Maersk Oil North Sea UK Limited

Company Overview

Maersk Oil North Sea UK Limited provides oil and gas exploration services. Maersk Oil North Sea UK Limited was formerly known as Kerr-McGee North Sea (U.K.) Limited and changed its name to Maersk Oil North Sea UK Limited in November, 2005. The company was incorporated in 1998 and is based in Aberdeen, United Kingdom. Maersk Oil North Sea UK Limited operates as a subsidiary of Mærsk Olie og Gas A/S.

Maersk House

Crawpeel Road

Altens Industrial Estate

Aberdeen,  AB12 3LG

United Kingdom

Founded in 1998

Phone:

44 1224 242 000

Fax:

44 12 2424 2595

Key Executives for Maersk Oil North Sea UK Limited

Managing Director
Compensation as of Fiscal Year 2015.

Maersk Oil North Sea UK Limited Key Developments

North Sea Energy Inc. Closes Farm-in Agreement with Maersk Oil North Sea UK Limited

North Sea Energy Inc. (NSE) announced that it has closed the farm-in agreement with Maersk Oil North Sea UK Limited (Maersk Oil) and has executed a joint operating agreement (JOA) with its joint venture partners: Maersk Oil, Premier Oil UK Limited (Premier), EnCounter Oil Ltd. (EnCounter) and Groliffe Ltd. (Groliffe) on UK Petroleum Production Licence P1943 Blocks 13/24c and 13/25, including the Bagpuss and Blofeld Prospects. Under the JOA, Premier has taken over as Operator of the Licence. UK Department of Energy and Climate Change (DECC) has approved the aforementioned transaction. Under the farm-in agreement, Maersk Oil is to carry 100% of NSE's costs, subject to a cap, to drill the initial Bagpuss Prospect exploration well including a site survey and agreed past costs. In addition, Maersk Oil is to carry 50% of NSE's costs, subject to a cap, on a Bagpuss appraisal well should one be drilled. In return, Maersk Oil will acquire a 25% working interest in the Licence from NSE, which will retain a 15% working interest. Premier has acquired a 37.5% working interest in the Licence from Groliffe and EnCounter, which have retained a 7.5% working interest and a 15% working interest respectively.

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