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AP Moller Maersk believes oil production in North Sea has reached its peak

AP Moller Maersk believes oil production in North Sea has reached its peak

COPENHAGEN (Thomson Financial) – Management at AP Moller Maersk’s Maersk Oil & Gas division believe oil production in the North Sea has reached its peak, daily Boersen reported.

‘Production is, under all circumstances, expected to decline during coming years, but our task is to counteract this as far as possible,’ Maersk Oil & Gas deputy director Anders Wurtzen said according to Boersen.

However, the Danish Energy authority expects new technology will help increase oil production in the North Sea, Boersen added.

AP Moller Maersk said in April that oil production at its partly owned Dansk Undergrunds Consortium’s 14 oil fields in the North Sea had fallen 8 pct year-on-year in March 2007.

gustav.sandstrom@thomson.com

gs/bsd

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