Today, the Minister for Energy, Utilities and Climate Lars Chr. Lilleholt has opened for applications for licences for exploration and production of hydrocarbons in the 8th Danish Licensing Round.
As the State's Oil and Gas Company, Nordsøfonden will hold 20 per cent of all future licences. Nordsøfonden holds a 20 per cent share in all licences granted since 2005 and in Danish Underground Consortium (DUC), which accounts for almost 90 per cent of Danish production. We participate on equal terms and with equal rights and liabilities as other commercial oil and gas companies.
"I am pleased, that the 8th Licensing Round has been announced and I look forward to welcoming a number of new partners in the near future. It is essential for Danish economy, security of supply of energy and for the large number of jobs in the oil and gas sector that Danish oil and gas production is maintained and strengthened in the years to come. A successful new licensing round can be an important part of this."
says Birgitta Jacobsen, CEO of Nordsøfonden.
Birgitta Jacobsen continues:
"Although the Danish area is mature, it still holds significant oil and gas potential. But a major effort is needed in order to realise this potential. Therefore both the established companies with extensive experience and smaller companies' ability to look at oil gas exploration with fresh eyes can contribute in their own way."
The offered area is located west of 6 ° 15 'east longitude in the Danish part of the North Sea, and the terms of application can be found on the Danish Energy Agency's website. Nordsøfonden does not participate in the application process, but is awarded 20 per cent in all approved licence applications.
Denmark Day presentation
See the Nordsøfonden presentation "State Participation in Denmark" from Denmark Day, April 2018.