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
12 Jun
 
Jeg lavede igår et indlæg NORWEGIAN SØGER KAPITAL.. skribent MALURT skrev helt korrekt at det drejed..
43
15 Jun
PNDORA
Carnegie´s senste negative udmeldning omkring en lille analyse foretaget blandt nogle franchisetager..
30
16 Jun
PNDORA
Som Pandora aktionær er jeg meget tilfreds med ledelsens indsats og de skabte resultater. Ledelsen l..
21
14 Jun
 
Jeg har et par gange øffet over niveauet herinde i dette debatforum. I første omgang skrev jeg til b..
18
12 Jun
 
GUDERNE KÆMPER FORGÆVES - mod den helt bevidste uvillighed og tilsyneladende dumhed og påtagede uvid..
16
18 Jun
PNDORA
              Jeg har lavet en fuld analyse på Pandora, som er en blanding af en regnskabs-analyse o..
15
16 Jun
VELO
Her er mit bud på begivenheder og dato for disse de næste 200 dage. Det bliver en god jul i år som i..
14
16 Jun
VWS
Nu er det jo Vestas der er mindst ramt af prispres, da de selv presser priser ned, da målet er at vi..
14
16 Jun
VWS
http://globenewswire.com/news-release/2018/06/15/1525456/0/en/Vestas-secures-442-MW-order-from-Xcel-..
13
14 Jun
VELO
Endnu et studie med Envarsus er startet op. Denne gang af Washington University School of Medicine. ..
13

HSBC Bank Plc : Form 8.5 (EPT/RI) - Lonmin PLC

22/02/2018 10:54:53
FORM 8.5 EPT/RI) PUBLIC DEALING DISCLOSURE BY AN EXEMPT PRINCIPAL TRADER WITH RECOGNISED INTERMEDIARY STATUS DEALING IN A CLIENT-SERVING CAPACITY Rule 8.5 of the Takeover Code (the "Code") 1.         KEY INFORMATION (a) Name of exempt principal trader: HSBC BANK PLC (b) Name of offeror/offeree i..

Rathbone Brothers Plc : Preliminary announcement of 2017 results

22/02/2018 07:00:19
Funds under management up 14.3% to £39.1 billionThis is a preliminary statement of annual results published in accordance with FCA Listing Rule 9.7A. It covers the year ended 31 December 2017. Mark Nicholls, Chairman of Rathbone Brothers Plc, said: "UK and global investment markets performed well in 2017, with some indices reaching record levels towards the end of the year. This outcome has b..

Elliott Capital Advisors, L.P : Form 8.3 - GKN Plc

Related news
21/02/2018 15:25:10
FORM 8.3 PUBLIC OPENING POSITION DISCLOSURE/DEALING DISCLOSURE BY A PERSON WITH INTERESTS IN RELEVANT SECURITIES REPRESENTING 1% OR MORE Rule 8.3 of the Takeover Code (the "Code") 1.         KEY INFORMATION (a) Full name of discloser: Elliott Capital Advisors, L.P. (for itself and related general partners ..

Most read news

  • 24 hours
  • 48 hours
  • 1 week
1
Novartis International AG: Alcon AcrySof® IQ PanOptix® trifocal intraocular lens shows superior visual performance in head-to-head trial post-cataract surgery
2
RENAULT : Groupe Renault launches the 2018 employee shareholding plan "Share the Future"
3
NXT Energy Solutions Announces Closing of $2,200,000 of Financing and Provides Operational Update
4
EY announces winners for the Entrepreneur Of The Year® 2018 Pacific Northwest Region Awards
5
Atom – Bonds (ATOM 21 0305) admitted to trading on June 19, 2018

Buy and sell signals

  • Trend
  • Moneymachine

Copyright Euroinvestor A/S 2018   Disclaimer and Terms of Use
Quote information is delivered by Morningstar.
Data is delayed 15-20 minutes according to the distribution agreements set by the different exchanges.
 
19 June 2018 04:13:22
(UTC+00:00) Dublin, Edinburgh, Lisbon, London
Version: LiveBranchBuild_20180613.1 - EUROWEB3 - 2018-06-19 05:13:22 - 2018-06-19 04:13:22 - 1000 - Website: OKAY