DJ: Maersk Oil Moves Ahead on $4.7 Billion UK Gas Field Amid Tax Breaks

Danish oil company Maersk Oil said Thursday it had chosen KBR London to engineer the technically challenging Culzean gas field in the U.K. North Sea, a $4.7 billion investment set to produce 5% of the country's gas output from 2020 or 2021.

First gas was expected in 2019 from the high-pressure, high-temperature field, discovered in 2008 in the central part of the U.K. North Sea, said Maersk Oil, the oil and gas unit of Danish conglomerate A.P. Moller-Maersk A/S (MAERSK- B.KO).

"Culzean is a key growth project for Maersk Oil, but can also be an important new resource for the U.K. in terms of its potential to support energy security and employment," said Martin Rune Pedersen, managing director of Maersk Oil U.K.
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