Oil and gas in Denmark
Oil and gas have been produced from the Danish part of the North Sea since 1972, when the Dan field started production. Since then, oil and gas companies have invested huge sums in exploration, which have resulted in the development of a total of 19 oil and gas fields. Denmark has thus been an oil and gas-producing nation for almost half a century.
The Danish production of oil and gas benefits Danish society in several ways. For example, it generates revenue for the state, creates jobs and helps assure a reliable supply of energy.
The installations that produce oil and gas are located more than 200 km out in the North Sea, far from the coast of Denmark. This may explain why Danish oil and gas production has attracted little attention over the decades, despite the fact that this production has a major impact on the development of Danish society.
Oil and gas have a key role to play in modern society and they have a significant effect on everyday life - often without people giving it a second thought. In addition to providing households with electricity and heating, oil and gas are used in the production of everything from cycling helmets to medicines, nylon stockings and petrol.
Revenue for the state
For decades now, revenue from the production of oil and gas has made Danish society more affluent and contributed to the development of our welfare.
Figures from the Danish Energy Agency reveal that in the period 1972–2018, the state received almost DKK 515 billion in revenue from the oil and gas sector alone. This is sufficient to have paid for the Great Belt Bridge more than 20 times over. In 2018, revenue for the Danish state actually amounted to DKK 8.4 billion, of which Nordsøfonden contributed DKK 2.4 billion.
Furthermore, oil and gas production creates jobs for a great many people, both on land and offshore on the oil and gas platforms in the Danish part of the North Sea.
Investments in oil and gas production are typically targeted far into the future, and production from the Danish oil and gas fields is expected to make a significant contribution to the Danish treasury for years to come.