What is Nordsøfonden

Nordsøfonden is the Danish state company, tasked with generating value for Danish society by exploiting the potential of Denmark’s subsurface assets. Nordsøfonden rests on two pillars: We produce oil and gas, thus helping to assure supplies of energy and raw materials. At the same time, we are the state participant in all licences for underground carbon storage, where we work to ensure reduction of emissions to the atmosphere.

Our role

Our task is of major societal significance – now and in the future. We are a part of the solution, both in terms of delivering energy and raw materials to Denmark and Europe as well as when we play our part in pursuing the climate goals in terms of emissions reductions through carbon storage.

Nordsøfonden manages the interests of the Danish State, and the framework for our work is defined at a political level. We are involved from start to finish, thus assuring continuity in the activities in the Danish subsurface resources. As a consistent player in the work with Danish underground resources, we operate at the intersection where partners, operators and authorities meet. Here, we promote mutual understanding, assess opportunities and pave the way for holistically oriented solutions.

Oil and gas

Nordsøfonden is involved in a large number of oil and gas licences in the Danish sector of the North Sea, and we are the third-largest oil and gas company in Denmark. Our great strength is our wide-ranging knowledge of, and in-depth experience with the subsurface resources, and we bring that into play in working relationships with our partners.

Denmark has been an oil and gas producing nation for more than half a century, and this production has contributed positively to the development of the welfare state, and to reinforcing security of energy supply in Denmark. The Danish government has now set 2050 as the end date for activities in the oil and gas sector.

Nordsøfonden will continue working to optimise production until then, on the basis that oil and gas continues to play a key role in our society, even in the midst of the green transition. After this date, we will focus our attention on decommissioning the North Sea fields in a responsible manner.

There can be no doubt that the production and consumption of fossil fuels has an impact on our environment and climate. That is why we are focusing on new technology and on enhancing the efficiency of production in order to help limit the environmental footprint.

See Oil and gas in Denmark for more information. 

Carbon storage

Nordsøfonden participates on behalf of the Danish state in all licences for carbon storage and related activities. The Danish subsurface holds great potential for storing CO2 – offshore, nearshore and onshore.

With its estimated storage capacity and central location, Denmark has the potential to become a European hub for carbon storage. As such, we are also in a position to help our neighbouring countries in limiting their emissions to the atmosphere.

Nordsøfonden has been a consistent partner in the oil and gas activities in the Danish North Sea for many years. This work has provided us with valuable experience of Denmark’s subsurface resources, backed by unique, wide-ranging knowledge. This provides us with an excellent base for developing and strengthening Denmark’s position in the field of carbon storage.

See Carbon storage in Denmark for more information.

 

 

 

 

2022

Nordsøfonden is appointed to participate in all future licences for CO2 storage in Denmark.

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.