Denmark’s Maersk Oil has approved internally its $5 billion ultra-high-pressure high-temperature Culzean project off the UK, taking the technically challenging scheme a step closer to formal sanction.
Senior Maersk Oil executives said the decision was taken in the last few weeks and the project is now awaiting approval from the boards of partners BP and JX Nippon in the near future, with UK government approval and a final investment decision now expected to take place before the end of the year.
Maersk
