What is Nordsøfonden

Nordsøfonden is the Danish state's oil and gas company, tasked with handling state participation in licences in the Danish area of the North Sea. We are, among other things, partner in the Danish Underground Consortium (DUC), which accounts for almost 90 % of Danish production.

We produce oil and gas, thus helping to assure supplies of energy and raw materials and to generate income for the state coffers.

Our task is to generate value by making the best possible use of the resources at our disposal. The assignment is defined at political level, and we tackle it by operating a profitable business and promoting long-term production of oil and gas from the Danish part of the North Sea.

We focus on ensuring that we conduct our activities in a responsible manner every step of the way. For additional information, see Our responsibility.

Our role

We enjoy a unique position in the Danish oil and gas industry. As a state-owned oil and gas company, we work at the intersection where partners, operators and public authorities meet. It is here that we strive to promote mutual understanding and to pave the way for collaboration on the development of the Danish part of the North Sea to the benefit of society as a whole.

We are a consistent participant in more-or-less all activities in the North Sea, and our strength lies in our interdisciplinary knowledge and insight into Danish exploration and production. We assess the opportunities open to us and focus on solving problems. Consequently, what we do results in better, more holistically oriented solutions for oil and gas production in the North Sea.

Nordsøfonden is a fixed point of reference in a sector increasingly distinguished by change. We are there every step of the way – from the earliest phases of exploration to the point when the fields are to be shut down. As such, we hold responsibility for an assignment of major societal significance – both now and in the future.

 

Nordsøfonden vision

Nordsøfonden works for long-term, innovative and financially sound exploration and production efforts in Denmark.

Nordsøfonden mission

To create the highest possible value for the Danish State from Nordsøfonden's participation in oil and gas exploration and production in Denmark and ensure that Nordsøfonden is an active and competent partner which promotes coherent and cost-effective exploration and production.

2021

Nordsøfonden enters a CCS partnership regarding project Bifrost, where DUC, Ørsted and DTU will mature a concept for transport and storage of CO2 in the Harald field.

2017

The partners in DUC commits to invest 21 bill. DKK in the Tyra redevelopment 

2017

First oil from Ravn field. It is the first time that Nordsøfonden has production outside DUC.

2016

Nordsøfonden becomes partner in 16 new licences granted in the 7th Licensing Round.

2014

Nordsøenheden - which administrates Nordsøfonden - is converted from a government entity to an Independent State Company with its own Board of Directors. 

2012

Nordsøfonden joins DUC as a partner on 9 July, becoming the third-largest oil and gas producer in Denmark with shares in 15 producing fields.

 

2007

Nordsøfonden participates in its first exploration well project, Rau-1, which strikes oil.

2006

Nordsøfonden becomes a partner in 14 new licences granted in the 6th licensing round.

2005

Nordsøfonden and Nordsøenheden are established through an act of parliament to handle the Danish state’s participation in oil and gas licences in the Danish part of the North Sea. Nordsøfonden participates in two “Open Door” licences.