Maersk Oil Acquires Stake in Shetland Basin License

Maersk Oil has entered into an agreement with ChevronTexaco North Sea Limited to acquire a 25% equity stake in License P1025 in the UK Atlantic Margin.

Chevron will retain an operated 65% equity share in the License, and Talisman Energy maintains its 10% equity holding.

The license area covers blocks 213/5 and 214/1 in the Faroe/Shetland Basin. The License was awarded in the 19th UK Licensing Round in June 2001.

It is the partnership's intention to conduct a 2D seismic survey in 2005 to further enhance the understanding of the Capercaillie prospect situated in the License. Pending results thereof, an exploration well may be drilled in 2006/2007.

The Capercaillie prospect is in approximately 1,500 meters of water some 200 kilometers northwest of the Shetland Isles.

For More Information on the Offshore Rig Fleet:
RigLogix can provide the information that you need about the offshore rig fleet, whether you need utilization and industry trends or detailed reports on future rig contracts. Subscribing to RigLogix will allow you to access dozens of prebuilt reports and build your own custom reports using hundreds of available data columns. For more information about a RigLogix subscription, visit