17/03/2010 15:57:49

DONG Energy to develop the Laggan-Tormore fields West of Shetland

DONG Energy has decided together with its partner TOTAL (Operator) to develop

the Laggan and Tormore gas fields in the West of Shetland region in Great

Britain. The partners' interests in the fields are DONG Energy with 20% and

TOTAL with 80%. The fields are situated some 140 km North-West of the Shetland

Islands in blocks 206/1a and 205/5a respectively.

DONG Energy's expected total investment in the Laggan and Tormore fields is

app. DKK 4.3 billion. The fields have estimated total recoverable gas reserves

of app. 28 billion standard cubic meters plus some condensate and an expected

peak production rate of app. 14 million standard cubic meters per day. First

gas from the fields is planned during 2014.

“We are very pleased to be part of the first major step in developing this

exciting region's gas reserves where the new infrastructure will help to unlock

the large gas potential in the greater West of Shetland area. Together with

DONG Energy's West of Shetland licence portfolio the Laggan and Tormore fields

are part of our strategy to secure long-term supplies of oil and gas to our

customers”, said Søren Gath Hansen, Executive Vice President in DONG Energy and

responsible for the company's oil and gas business.

“Since our entry in to the Shetland region in 2000 we have participated in a

majority of the discoveries and established a strong position in this high

potential development area”, states Søren Gath Hansen.

The Laggan and Tormore fields will be connected via a subsea pipeline to a

gas-processing plant at Sullom Voe on the Shetland Islands with further export

of the processed gas to the UK Frigg (FUKA) pipeline system in the North Sea

and then on to the St. Fergus gas terminal on the East Scottish Coast .

Commencing in 2000 with no UK presence, DONG Energy today holds interests in

nine discoveries and 24 licences, of which it is operator of seven.

DONG Energy's entry was made with the award of the Cambo exploration licence,

in which the first oil discovery was made in 2001. DONG Energy has participated

successfully in every bidding round since then. In 2004, DONG Energy purchased

ConocoPhillips' portfolio in the area, including the Laggan discovery. The

company entered Rosebank and Tormore through farm-ins before the two fields

were discovered. In 2009 DONG Energy as operator made an exciting find in the

Glenlivet licence close to the planned Laggan-Tormore infrastructure and

participated in the Tornado find with OMV as operator.

The content of this announcement does not alter the previously announced

expectations for DONG Energy's financial result for 2010 or the announced

expected level of investments.

For further information, contact:

Media Relations

Morten Kidal

+45 9955 9583

Investor Relations

Morten Hultberg Buchgreitz

+45 9955 9750

Attachment: Attachment

Post comment

Related debate

  • 1 week
  • 1 month
  • 1 Year
31 Jul
TORM-A
Mit syn på Torm, og hvorfor jeg mener der er penge at hente som investor.    Der er 95,7 mia. Torm-a..
25
31 Jul
ZEAL
Mange taler om LixiLan og hvor stort det kan blive - inklusiv mig selv!   Men Zealands lidt upræcise..
23
04 Aug
BAVA
hermed mit bidrag.   Kerrigsdale snakker om at man skal huske at bruge Apple to apple metoden (side ..
19
01 Aug
ZEAL
Jeg skrev igår et indlæg om et projekt hos Zealand Pharma som indenfor meget overskuelig fremtid kan..
16
31 Jul
 
Kan vi ikke få en service meddelelse på hvad der sker med alle de korrreanske spam indlæg der flyder..
15
29 Jul
OMXC20
Delfin har et indlæg om Varoufakis fra Lars Tvede som 10 personer har tomlet op. Læren er at Varoufa..
15
03 Aug
TORM-A
  Et kig på prospektet i Torm       13.4.2.2 Prospective consolidated financial information for the ..
11
01 Aug
EXQ
Jeg opdagede for et par uger siden at inrater.com havde lavet et system hvor man kunne oprette en mo..
11
29 Jul
I:DAX
Alpe påstår ikke som dig at kunne forudsige markedet i detaljer, derimod giver han bud på sandsynlig..
11
03 Aug
VWS
Energiwatch beskriver det ligefrem som at "Suzlon haler vinder ind på Vestas".   Hvad Børsen, Energi..
10

Stagecoach Group PLC : Director/PDMR Shareholding

04/08/2015 15:58:11
Stagecoach Group plc (the "Company") makes the following notification under the Financial Conduct Authority's Disclosure and Transparency Rule 3.1.4. On 4 Au..

Form 8.3 - Royal Dutch Shell plc

04/08/2015 13:50:55
FORM 8.3 PUBLIC OPENING POSITION DISCLOSURE/DEALING DISCLOSURE BY A PERSON WITH INTERESTS IN RELEVANT SECURITIES REPRESENTING 1% OR MORE ..

Form 8.3 - RSA Insurance Group

04/08/2015 10:45:13
FORM 8.3 PUBLIC OPENING POSITION DISCLOSURE/DEALING DISCLOSURE BY A PERSON WITH INTERESTS IN RELEVANT SECURITIES REPRESENTING 1% OR MORE ..

Most read news

  • 24 hours
  • 48 hours
  • 1 week
1
Coeur Reports Second Quarter 2015 Results
2
Medtronic, Inc. Commences Registered Exchange Offer for Certain of its Senior Notes
3
Marel hf. Issuance of Stock Options
4
Brad Keselowski Crew Chief Paul Wolfe Wins Second Straight MOOG® 'Problem Solver' Award After Wild Day at Pocono
5
LECTRA: Lectra's first apparel manufacturing seminar takes an in-depth look at the new rules of the changing fashion marketplace

Buy and sell signals

  • Trend
  • Moneymachine

Copyright Euroinvestor A/S 2015   Disclaimer and Terms of Use
Quote information is delivered by Interactive Data.
Data is delayed 15-20 minutes according to the distribution agreements set by the different exchanges.
 
05 August 2015 07:20:43
(UTC) Dublin, Edinburgh, Lisbon, London
Version: LiveBranchBuild_20150804.2 - EUROWEB1 - 2015-08-05 08:20:43 - 2015-08-05 07:20:43 - 1000 - Website: OKAY