DCS: Forecasted hydrocarbon production in declineProduction and long-term forecast for oil and sales gas. Source: The Danish Energy Agency

DCS: Forecasted hydrocarbon production in decline

Oil and gas production will decrease slightly, with 3% and 1% respectively, as announced in a report released by the Danish Energy Agency

The Resource Inventory and Forecasts report released by the Danish Energy Agency showcases that, as per 1 January 2019 the total reserves and contingent resources associated to the Danish part of the Norwegian Sea are 128 million m3 oil (139 in 2018) and 70 billion Nm3 gas (normal cubic meter, 72 in 2018).

Total reserves and contingent resources as per 1.01.2019. Source: The Danish Energy Agency

Oil production in 2019 is expected to be 6.1 million m3, corresponding to approx. 105,000 bopd. This is a reduction of 6% compared to last year’s estimate, which is mainly due to the Agency’s expectations of a smaller production in some of the larger fields.

For 2019, the Danish Energy Agency expects the production of sales gas to be 2.4 billion Nm3, corresponding to approx. 44,000 boepd. For 2019, production has been revised for some of the larger fields, which overall leads to an unchanged estimate for production in 2019 compared to the previous forecast.

Estimates for production in the period up to 2023 have been increased by an average of 6% mainly as a result of a reassessment of gas production in some of the larger fields.

Five years forecast for oil and sales gas production. Source: The Danish Energy Agency

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