North Sea oil running low, Danish Ministry of Climate and Energy
Release Date: 2009-08-10
Denmark’s status as the European Union’s only self-sufficient energy country is nearing its end
The country’s oil and gas reserves in the North Sea will run out by 2018 and 2020 respectively, an alarming report from the Danish Energy Agency states.
National production will continue to slide, going from an estimated 15 million cubic meters this year down to about three million by 2025 while annual demand will remain at 9 million cubic metres, reports Politiken newspaper.
The report warns of serious economic consequences with the country having to pay for the import of the fuels.
‘In our industry, 2018 basically means tomorrow,’ Dong chief executive Anders Eldrup said.
‘We’re pretty certain there are no more big fields in the North Sea any longer. We would have found them by now.’
There are currently 50 oil and gas production platforms in the Danish area of the North Sea. Dutch company Shell owns most of those, while Maersk Oil and Gas operates 15 and Dong Energy has three platforms.
The oil has helped the government and Maersk post significant profits in recent years. In 2008, oil brought in nearly 36 billion kroner into the government’s coffers.
Denmark has been the only self-sufficient oil and gas country in the EU since the 1990s.
The Copenhagen Post
| Type: | NORMAL |
| Company: | Danish Ministry of Climate and Energy |
| Country: | Denmark |
| Url: | http://www.denmark.dk/en/servicemenu/news/environment-energy-climate-news/northseaoilrunninglow.htm |