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
18 Oct
OMXC20
Data herunder er lavet på C20 Cap og C20 vægtet til at passe til C20 Cap i 2010 og 2011.   Siden den..
66
16 Oct
 
Jeg skriver lige det her indlæg fordi det er 5. gang som investor jeg oplever en af de her lidt stør..
56
16 Oct
 
Kære Alle   Jeg takker Jer alle for en god tid her, jeg erkender at have tabt, selvom jeg holdt mig ..
36
17 Oct
VWS
Normal 0 21 false false false DA X-NONE X-NONE ..
28
17 Oct
I:SP500
  Hvorfor aktiemarkedet ikke er blevet for dyrt   I mit indlæg vedr. aktie- og vækstkrise beskrev je..
21
16 Oct
I:SP500
  @bgadk – enig i, at en moderat inflationær politik der holder deflations-spøgelset nede, er præcis..
20
20 Oct
VELO
Match, så har jeg set lidt på mine handler og depoter.   Må begynde med at konkludere, at mit handel..
17
20 Oct
VELO
Tvivler på at du får ret. Aktieanalytikerne siger allerede før godkendelsen en KORTSIGTET kurs på 2..
17
16 Oct
OMXC20
Med reference til mit indlæg af 10.07.2014 emne nummer 280903   Dengang i juli var der uro på marked..
16
16 Oct
PNDORA
Til dem som ikke gider trykke over på en anden side: -----------------------------------------------..
14

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
An Atos customer, l'Assurance Retraite, wins the Silver SAP Quality Award France 2014, in the « Business Transformation » category
2
BIC : 9 months 2014 Results
3
LUCARA’S EXCEPTIONAL STONE TENDERS BRING IN $136 MILLION IN 2014
4
Heineken Holding N.V. reports 2014 third quarter results
5
Publishing of Stockmann’s Interim Report for January–September 2014
Euroinvestor around the globe: Euroinvestor.dk | Euroinvestor.se | Euroinvestor.no | Euroinvestor.fr | Forexinvestor.com| Wisselkoersen.nl | Valuta.se | Valutaveksel.no | Divisas.es | Valute.it
Copyright Euroinvestor A/S 2014   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.
 
22 October 2014 22:38:46
(UTC) Dublin, Edinburgh, Lisbon, London
Version: LiveBranchBuild_20141015.1 - EUROWEB3 - 2014-10-22 23:38:46 - 2014-10-22 22:38:46 - 1000 - Website: OKAY