Maersk Oil ‘poised to pounce’

18 November 2015, News Wires – Danish player Maersk Oil reportedly has several billion dollars to buy new leases, producing fields or even launch a corporate takeover.

Maersk_Oil_Logo.960x250The oil producer claims to be in a stronger position than some of its peers, which are making cutbacks in the face of a sustained slump in oil prices.

Maersk’s chief operating office Gretchen Watkins told Reuters that the company is looking at possible deals in its domestic North Sea market and other areas, including markets where it has no presence yet.

“We’re able to look at opportunities in the several-billion-dollar range,” she told the news wire.

“There’s quite a few opportunities out there that we’re taking a hard look at.”

Watkins said that the company could target rival oil businesses as well as buy in to existing projects.

Maersk Oil announced one such licensing deal last week, saying it had purchased stakes in Kenyan and Ethiopian onshore blocks.

The oil independent, backed by shipping conglomerate AP Moller-Maersk, could be well-situated to pounce on some of the assets its more poorly financed rivals are looking to offload.



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