Maersk Oil CEO Gretchen Watkins explains how CannSeal helps increasing production from mature fields.

Maersk Captial Markets day 13th December 2016.

Possible to recover oil worth 300MUSD for 30 well pairs at the Halfdan field, illustrating successful innovation collaboration with CannSeal for low cost barrels.

During the Maersk Capital Market Day, December 13th, Gretchen Watkins stated that “Maersk has become a leader in operating mature fields in the North Sea” thanks to innovative teams in Maersk and in the industry. As illustrated, the CannSeal field trial and world debut at the Halfdan field November 2015 may recover 200.000 barrels/year from this single operation alone. Given 30 well pairs in need for same conformance treatment, a value potential for 300 MUSD in recovered oil for this particular CannSeal technology is possible, she claimed. “This is where the value is”, she said, pointing to the hunt for low cost barrels in a very demanding market situation.

The full webcast is available at Maersk webpage. You will find the CannSeal topic discussed in Building on a strong foundation presentation by Gretchen Watkins from 07:40 until 10:19.