Maersk Quatar's investment threatened
OFFSHORE: The attempt to force the oil prices upwards by OPEC-countries, by reducing production, risks influencing negatively the expected proceeds of the billion dollar investment by Maersk Oil and Gas in the oil state of Quatar.
New regulations from OPEC, the association of the world's largest oil countries, threaten to limit the significant income growth in recent years, states the daily Borsen.
At the moment, it is very unclear exactly how serious the authorities in Quatar are forced to intervene with A.P. Moller-Maersk and the company's possibilities for producing from the large Al Shaheen field off the shore of Quatar.
It seems that the Danish company will not reach the goals stated when Maersk Oil and Gas began the largest foreign investment, any Danish company has ever made.
In the annual report from A.P Moller-Maersk it says that the production should reach 525,000 barrels a day by the end of 2009. The figure was changed in the 2007 report to more than 500,000 barrels and in the report of last year it was deleted all together.
"It is true that we foresee in the expansion plan for the Al Shaheen field that the production can go above 500,000 barrels of oil per day by the end of 2009. In 2008, the daily oil production was around 330,000 barrels", says ship owner Thomas Thune Anders, top manager of Maersk Oil and Gas.
Source: maritimedanmark.dk
