Maersk’s approvals for North Sea Flyndre and Cawdor prospects

Danish oil firm Maersk has received approval from UK and Norwegian authorities to develop the Flyndre and Cawdor prospects in the North Sea.

It said it will spend around £300 million bringing the fields, in which it holds majority stakes, into action.

Flyndre straddles the line dividing British and Norwegian waters due east of Dundee and was discovered in 1974. It is hoped it will see first oil production in 2016, before peaking at 10,000 barrels a day.

Nearby Cawdor, discovered in 2008, is expected to generate up to 5,000 barrels a day and start production in 2017. The former will be developed with a single well; the latter will use up to three depending on performance.

Both will be co-developed as a subsea tie-back to the Talisman Sinopec Energy UK Ltd operated Clyde platform.

Taken together, the two fields are expected to generate 30 million barrels of oil equivalent in the initial phase.

Talisman Sinopec is the major minority partner at both sites.

Meanwhile, GDF Suez announced a new gas discovery at the Cepheus exploration well in the Southern North Sea.