COPENHAGEN -(Dow Jones)- The Danish oil fields based in the North Sea stabilized their production output in April, but the output from the fields was still significantly lower than a year earlier, Maersk Oil and Gas A/S, which operates the fields, said Tuesday.
The April output from the Danish North Sea oil fields rose 6.5% on the month to 185,700 barrels of oil equivalent a day, from 174,300 in March. On the year, however, the output declined from 198,300 barrels of oil equivalent a day.
The oil fields are owned by Danish Underground Consortium, or DUC, a joint venture between Maersk (39%), Royal Dutch Shell PLC (RDSA) (46%) and Chevron Corp. (CVX) (15%), but all operated by Maersk Oil, a unit of A.P. Moller-Maersk A/S (MAERSK-B.KO).
The majority of the fields are so-called mature fields, where the output rate has started on a gradual decline.
Maersk said the uptick in April oil production was driven primarily by increased production from its Valdemar field, and was in accordance with expectations.
-By Flemming Emil Hansen, Copenhagen Bureau, Dow Jones Newswires; +45 33 12 44 88; firstname.lastname@example.org
(END) Dow Jones Newswires
May 08, 2012 03:39 ET (07:39 GMT)
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