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
24 Jan
VWS
  På den lille ø Rügen ud for Stralsund i Tyskland var der under 2. verdenskrig en del af Hitlers vå..
25
21 Jan
 
Jeg har startet nedenstående debat: http://www.proinvestor.com/index.php?p=debat_1&postid=71068   Ha..
22
24 Jan
VWS
Jeg kan da ikke tale en skid op. Men jeg kan dele et overblik over selskabet som andre ikke har. Men..
17
21 Jan
GEN
I anledning af at Genmab er gået over 400 har jeg lavet et indlæg om forskellige forhold der kan dri..
17
19 Jan
GEN
Aner intet om TA, men Genmab har virket stærk længe - svært at vide helt præcis hvad der forklaringe..
16
21 Jan
ATLA-DKK
Man skal ikke kaste med sten når man selv bor i glashus - tror du ved hvad jeg mener.   Og dit skriv..
15
22 Jan
E:ARCHER
Det var fandme da et flabet svar!   Hvad er du ikke fatter Goodwrench ? læs for helvede indlægget, s..
14
24 Jan
VWS
I stedet for at bruge så mange kræfter på mig syntes jeg at du skulle bruge dem på at lave de kritis..
13
24 Jan
VWS
Donlupo - du forudsætter altså (uden videre argumentation) at Vestas markedsandel vil være faldende ..
13
24 Jan
VWS
En ny rapport vurdere at vi skal fra dagens globalt investerede aktivitet gå fra 364.9 GW i 2014 til..
13

Tech Companies Send Criticism Along With NSA-Related Data -- Update

04/02/2014 00:06:00
By Danny Yadron Technology companies including Google Inc. and Microsoft Corp. released new figures on the amount of data requests they received from U.S. ..

U.S. Hot Stocks: Hot Stocks to Watch

03/02/2014 14:07:00
Among the companies with shares expected to actively trade in Monday's session is Herbalife Ltd. (HLF). Herbalife Ltd. (HLF) raised its fourth-quarter outl..

Pfizer Study Meets Primary Endpoints

03/02/2014 13:05:00
Pfizer Inc. (PFE) said Monday that a Phase 2 trial of its advanced breast cancer treatment met its primary endpoint. Pfizer said a study comparing the effec..

Most read news

  • 24 hours
  • 48 hours
  • 1 week
1
Taboola Continues to Demonstrate Massive Growth in the U.K. -- Reaches More Brits Than Youtube, According to comScore
2
Taboola Continues to Demonstrate Massive Growth in the U.K. -- Reaches More Brits Than Youtube, According to comScore

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.
 
26 January 2015 00:16:37
(UTC) Dublin, Edinburgh, Lisbon, London
Version: LiveBranchBuild_20150121.1 - EUROWEB5 - 2015-01-26 01:16:37 - 2015-01-26 00:16:37 - 1000 - Website: OKAY