(Adds government quote)
Dec 30 Maersk Oil, a subsidiary of Danish
shipping and oil company A.P. Moller-Maersk,
confirmed in a statement on Friday that it planned to stop
production at its Tyra gas field in October 2018 as it would no
longer be economically viable.
* Maersk says an economically viable solution for the full
recovery of the remaining resources in the field in the Danish
part of the North Sea has not yet been identified.
* Says production from the Tyra field is consequently
expected to cease on Oct. 1, 2018.
* The company warned in April that Tyra, Denmark's largest
gas field, would have to be shut down if no viable solution had
been found by the end of 2016.
* The Tyra facilities are nearing the end of their
operational life, due to a combination of more than 30 years
production and subsidence of the underground chalk reservoir.
* Maersk says it will have to reallocate resources being
used to plan the rebuilding of Tyra to come up with a detailed
plan to discontinue operations at the field.
* Says dialogue with Danish authorities will continue in an
effort to identify terms that would allow future investment in
* "The discussions between the government and Maersk are
still ongoing, and we hope to reach a final settlement in the
beginning of next year," Minister of Energy and Climate Lars
Christian Lilleholt said in a statement.
Further company coverage:
(Copenhagen newsroom; editing by David Clarke)