Oil production: Danish oil reserves are adequate for many years

2000 was another good year for the oil and gas activities in Denmark, as shown in the Danish Energy Agency report “Oil and Gas Production in Denmark 2000”. Oil production amounted to 22.11 million m3, corresponding to a daily production of 364,000 barrels of oil. Production has increased by 22% since 1999, mainly due to further development of the new fields Halfdan, Siri and Syd Arne as well as the “old” field Dan. In 2000, oil and gas were produced from a total of 16 fields together encompassing 42 platforms and 281 wells. In 2000, natural gas deliveries to DONG Naturgas A/S amounted to 7.11 billion Nm3, corresponding to an increase of 5% relative to 1999.

As a result of the record production combined with the high oil price and the high exchange rate for the US dollar, the value of production in 2000 increased by 96% to approx. DKK 32.9 billion. The Danish state received approx. DKK 8.3 billion from the production in the form of taxes and fees. This is more than double the 1999 figure.

Since 1997, Denmark has been self-sufficient as regards energy. It is estimated that production exceeded consumption by approx. 45% in 2000. The Danish Energy Agency estimates that Denmark will be self-sufficient in energy until 2005.

The oil reserves as per 1 January 2001 are estimated to be 299 million m3, corresponding to the largest reserves the Agency has ever recorded. Based on the new assessment of reserves, the oil production is calculated to be sustainable at the 2000 level for the next 14 years. According to Danish Energy Agency forecasts, production in 2001 will amount to just under 21 million m3 of oil, whereafter production will fall.

Further information: Helle Halberg, Danish Energy Agency. Phone: +45 33 92 6765. E-mail: heh@ens.dk

The report “Oil and Gas Production in Denmark 2000" will be available on the Danish Energy Agency homepage from 6 June at http://www.ens.dk/uk/publica.htm



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