Denmark Issues 16 Oil, Gas Licenses
COPENHAGEN, April 6 (Reuters) - Denmark on Wednesday issued 16 oil and gas exploration licenses in the North Sea, just days after A.P. Moller-Maersk threatened to shut down the country's main gas field.
The licenses were awarded to Danish and international players including Dong Energy, Hess Denmark, Wintershall Noordzee, Nordsofonden and Edisson International, Denmark's Ministry of Energy, Utilities and Climate said.
"With the low oil prices we currently are experiencing it is a great result," Energy Minister Lars Chr. Lilleholt said in the statement.
The oil subsidiary of Maersk, which was not among the winning bidders, said this week it will shut the Tyra gas field in October 2018 if it cannot find a solution by the end of this year to make the ageing site profitable in the long term.
Denmark's tax proceeds from the North Sea have fallen from 36 billion Danish crowns ($5.5 bln) in 2008.
In December the government said it expected tax revenues from oil and gas of just 4 billion crowns this year, but that was based on an oil price of almost $50 per barrel, well above the current $38.60 level for Brent.
Other winners in the biding round for the North Sea exploration licences were PA Resources, Ardent Oil, Dana Petroleum, Danoil Exploration, DEA Deutsche Erdoel, Dyas and Hansa Hydrocarbons, the ministry said.
(Reporting by Ole Mikkelsen; editing by Jason Neely)
WHAT DO YOU THINK?
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.
- European Oil Majors Seek To Harness US Offshore Wind (Aug 01)
- Billionaire Ratcliffe Hunts Oil to Repeat Chemicals Empire Build (May 24)
- NPD Grants Consent for the Expansion of Nyhamna Gas Plant (Feb 10)
Company: Dana Petroleum more info
- Independents Go Big in North Sea (Jan 03)
- Dana Petroleum Raises Concerns Over EnQuest North Sea Discovery (Jul 05)
- SDX Energy Quits Cameroon Concession In 'Sensible' Move (Jun 16)
Company: Wintershall more info
- The $20B Race to Eclipse Norway's Elite Oil Producers (Sep 13)
- Wintershall's Libya Oil Output Sharply Lower At 10,000 Bpd (Aug 28)
- Kremlin Accuses Trump of Trying to Bully Europe into Buying US LNG (Jul 12)
Company: Maersk Oil & Gas more info
- Shell Names Former Maersk Oil CEO Watkins As Next US Boss (Mar 27)
- Maersk Energy Sees Uptick In Offshore Oil Drilling, Profit Still Squeezed (Feb 20)
- Maersk Oil CEO To Step Down After Total Takeover (Sep 27)