Maresk OKs $1B Golden Eagle Growth Plan

The board members ofMaersk Oilhave approved an investment worth $1 billion in the Field Development Plan. The investment will be for the Golden Eagle Area in the U.K. North Sea.

The construction of a platform and other infrastructure will start by the end of November 2011. The first oil is expected in 2014 with initial production rates at between 60,000-65,000 barrels of oil a day.

Click here for the release fromMaersk Oil.