DONG Earmarks $649MM to Develop Marulk Field



DONG has agreed to a development plan for the Marulk gas field in the Norwegian sector of the North Sea. According to the plan, Marulk will be developed by two production wells connected to and controlled from the production vessel at the Norne field via a seabed installation. Expected to commence production in the second quarter of 2012, Marulk's gas will be exported via facilities on the west coast of Norway through a Gassled pipeline system to either Europe or to the UK. The development and the investment are still subject to governmental approval. Situated on Blocks 6507/2, 6507/3, 6607/12 and 6607/11 in a water depth of 1,250 feet (381 meters) is the Marulk field. Eni holds a 20% operating interest in Marulk; Statoil holds 50%; and DONG holds the remaining 30% interest.

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