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Maersk kicks off historic US oil production

8/12/2014 by Sharon Shahzad

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The Danish company tries deep-water extraction for the first time

For the first time in its history, the oil and shipping giant Maersk has begun producing oil from the US in the Gulf of Mexico, where it is doing so via deep-water offshore drilling – another first for the Danish company.

The oil is being extracted by a floating rig in 2,100-metre deep waters in the Jack oil field some 450 kilometres off the coast of New Orleans, Louisiana.

"The Jack field will deliver Maersk Oil's first oil from deep water and the first production in the US,” explained Gretchen Watkins, the ‎chief operating officer at Maersk Oil, according to Børsen business newspaper.

”The ability to deliver projects on time and within budget, combined with capital, discipline and technical options, is essential for Maersk Oil. The Jack field is a good example of that.”

Future expansion
The Jack field – which was discovered ten years ago and is expected to last 30 years – is run by the oil company Chevron, which owns 50 percent of the field, while Maersk and the Norwegian oil company Statoil own 25 percent each.

This article has been extracted from http://cphpost.dk, please click on this link to read the article in full http://cphpost.dk/news/maersk-kicks-off-historic-us-oil-production.11925.html

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