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
21 Jul
TOPO
Kurshop -  Der findes tusinder af Biotekfirmaer i verden som du kan gå ud og investerer i ! Hvad er ..
17
23 Jul
VWS
Jeg sidder og graver mig ind i dette lille interessante skriv:   http://www.power-technology.com/new..
15
20 Jul
VELO
Sidder ig gennemlaser tidligere traade og samler her lidt op og vil komme med betragtninger for den ..
13
24 Jul
OMXN40
Det bliver/er hverdagskost i alle europæiske lande inden længe.. Men tankevækkende, at terrortruslen..
12
25 Jul
EXQ
Så lykkedes det at komme til Vedbæk for at besøge Exiqon. Damen, en kammerat og jeg selv blev taget ..
11
11:17
 
Pouli,   Forum er i den grad domineret af børn, studerende, ludomaner, buffet-wannabees and what hav..
10
23 Jul
PNDORA
Det er helt naturligt, at aktiekursen på et selskab, som er steget meget, svinger kraftigt forud for..
10
22 Jul
VWS
Mon dette forum og skribenterne mon nogensinde bliver så voksent, at vi er undgår dette evindelige b..
8
21 Jul
E:VWS
Du kan da umuligt fjerne kernemedarbejdere med 10-30 års erfaring når de ikke engang har haft fabrik..
8
25 Jul
VELO
@ Jennis69. Indtægter. De havede indtægter på 38 mill. sidste år. Såvidt jeg kan se, er der en mil..
7

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
EDF : EDF AND VEOLIA HAVE COMPLETED THEIR TRANSACTION ASSOCIATED WITH DALKIA OPERATIONS
2
Parker to Announce Fiscal 2014 Fourth Quarter and Full Year Earnings on August 6, Conference Call and Webcast Scheduled for 11 a.m. Eastern
3
Merit Network, Inc.: Successful Cyber Exercise Tests Skills of Michigan Cyber Civilian Corps and WMCSC
4
WORLDLINE SA :Worldline announces partial exercise of the over-allotment option
5
463 Winning Bidders in Zions Direct Securities Auctions
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.
 
26 July 2014 14:08:57
(UTC) Dublin, Edinburgh, Lisbon, London
Version: LiveBranchBuild_20140723.1 - EUROWEB6 - 2014-07-26 15:08:57 - 2014-07-26 14:08:57 - 1000 - Website: OKAY