Denmark delivers 16 oil and gas exploration licences

Denmark delivers 16 oil and gas exploration licences

Denmark issued 16 oil and gas exploration licences the North Sea today, following threats to close the country’s main gas field from A.P Moller-Maersk.

Denmark’s Minister of Energy, Utilities and Climate said in a statement that the licences were given to Danish and international companies such as Dong Energy, Hess Denmark, Wintershall Noordzee and Nordsofonden and Edisson International.

Lars Chr. Lilleholt, the country’s energy minister noted, “With the low oil prices we currently are experiencing it is a great result.”

Maersk’s oil subsidiary announced this week it will shut down the Tyra gas field in October 2018 if there are no solutions to make the site successful in the future.

Denmark’s North Sea tax earnings have dropped from US$5.5 billion in 2008.

The ministry said other successful players for the North Sea licences were Ardent Oil, Dana Petroleum, Danoil Exploration, PA Resources, DEA Deutsche, Erdoel and Dyas and Hansa Hydrocarbons.

@RGNonline