Total E&P Denmark announced plans to restructure its Danish Oil and Gas business in Esbjerg, to provide a simpler and focused structure built on Total Group’s expertise.
The restructuration involves the redevelopment of the Tyra gas fields, which Total acquired from A.P. Moller-Maersk in 2017. Right before the acquisition, Maersk had together with its partners in the Danish Underground Consortium (DUC) decided to invest $3.2 billion in redeveloping the Tyra gas fields – the largest investment ever made in the Danish part of the North Sea.
The current production at Tyra will be shut down at the end of 2019, and with this, the number of employees will be reduced from around 1500 to 1300.
According to Total, when the field comes back on stream in 2022, the infrastructure at Tyra will process more than 90% of the natural gas from the Danish North Sea.
Through new development projects and third-party tie-ins, the redevelopment of Tyra can be a catalyst for extending the life of the Danish North Sea – not just for Total and the DUC, but also for Denmark.