Maersk Oil started production Tuesday from the unmanned Tyra Southeast-B platform in the Danish North Sea.
The new platform, located 136 miles off Denmark’s west coast, will produce a mixture of oil and gas and is expected to deliver a total of 20 million barrels of oil and 170 billion standard cubic feet of gas.
Tyra Southeast-B went into production “safely, on time and on budget,” Denmark-based Maersk Oil said.
The platform will add combined reserves and resources of 50 million barrels of oil equivalent to Danish production during the next thirty years.
The first well at Tyra Southeast-B is expected to produce 2,600 boepd.
The platform is projected to hit a peak production of 20,000 boepd in 2017.
Maersk plans to drill a total of 8 to 12 horizontal wells at the project during 2015 to 2017 with each well being about three miles long.
“The Tyra Southeast extension is a great example of how we extract value from the Danish North Sea by combining intricate knowledge, long-term investments and the right technical capabilities,” said Maersk Oil CEO Jakob Thomasen.
The Danish Underground Consortium (DUC), a joint venture operated by Maersk, invested about $650 million in the project including the 4,700 ton platform, pipelines and drilling activity.
Maersk holds a 31.2 percent operating stake in DUC, Royal Dutch Shell holds a 36.8 percent interest, Denmark-based Nordsøfonden holds a 20 percent interest and Chevron holds a 12 percent interest.