Maersk Oil sanctions £2.5bn investment in Tyra field

The Tyra East platform
The Tyra East platform

Maersk Oil said today that project partners had taken a final investment decision on the £2.5billion Tyra gas field in the North Sea.

Tyra, Denmark’s largest gas field, will continue producing for at least another 25 years thanks to the investment.

The field will provide enough gas to supply 1.5 million Danish homes.

It processes 90% of the nation’s gas.

The field will be shut-in for the redevelopment in November 2019, and production is expected to restart in July 2022.

Maersk Oil chief executive Gretchen Watkins said: “Tyra has been a key asset in the history of Maersk Oil, and an important source of energy security for Denmark. The redevelopment of Tyra is the largest investment carried out in the Danish North Sea, and when completed in 2022, production from the Tyra field itself has the potential to cover Danish gas consumption for a decade.”

Maersk Oil operates Tyra on behalf of a consortium comprising A.P. Moller – Maersk (31.2%), Shell (36.8%), Nordsøfonden (20%) and Chevron (12%).