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New strategic plan for the North Sea

New strategic plan for the North Sea

04-07-2017 10:00:00


Today, the long-awaited oil and gas strategy for the Danish part of the North Sea was unveiled. It is developed in close cooperation between the Danish Energy Agency and the National Geological Surveys for Denmark and Greenland (GEUS).

"This government is working to ensure that there is continued development and jobs in the Danish part of the North Sea. Denmark must also have a strong and competitive energy sector with competences in both oil/gas and renewable energy. Oil and gas from the North Sea have secured high income for Denmark and the Danes. I am therefore pleased and proud that the government together with the industry can send a strong signal that there is still significant potential in the North Sea," says the Minister of Energy, Supply and Climate Lars Chr. Lilleholt.

The strategy deals with five recommendations to increase the potential for oil and gas in the North Sea and reduce barriers to exploit the potential of oil and gas:

1. Promote an efficient and attractive investment environment
2. Promote the use and development of technology
3. Optimize maintenance, renewal and use of infrastructure
4. Reduce costs
5. Ensure skilled labor in the future

The strategy complements the North Sea Agreement from March this year. Here a large majority of the parties of the government facilitated the taxation of hydrocarbon activities for all companies in the North Sea in the years 2017-25 to improve the investment conditions for oil and gas production in the North Sea. It is the agreement that ensures full reconstruction of the Tyra field.

Denmark has extracted oil and gas for more than 40 years. There is still need for oil and gas, and society has an interest in ensuring the most appropriate utilization of oil and gas resources in the Danish part of the North Sea.

The sector also contributes positively to society through significant tax payments and a large number of jobs distributed among both oil and gas producers and the many subcontractors.

Source: Energistyrelsen / Maritime Denmark


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