The DEA updates the five-year forecast of Danish oil and gas Production
Oil production is written down 2 per cent for 2012, and production of sales gas is written up 9 per cent for 2012 compared to the annual report from May.
The Danish Energy Agency (DEA) has updated the five-year forecast for oil and sales gas production, investments and costs for exploration, operation and oil and gas transportation compared to the annual report from May.
For 2012, oil production is expected to total 11.6 million m³, equal to about 199,000 barrels of oil per day. This is a 9 per cent decline on 2011. Compared to the annual report from May the expected production for 2012 is written down 0.2 million m3 corresponding with 2 per cent. The downward adjustment is mainly caused by reduced expectations to the production from the South Arne Field.
Future production is expected to decline further, but in 2016 an increase in production is expected mainly caused by production from the Hejre Field. For the period 2012 to 2016 mainly minor revisions have been made compared to the annual report, and total estimated production for this period has been written down 3 per cent compared with the annual report.
Sales gas production is expected to total 4.7 billion Nm3 in 2012. On 2011 this is a 16 per cent decline. Compared to the annual report the expected production of sales gas for 2012 is written up 0.4 billion Nm3 corresponding with 9 per cent. The upward adjustment is mainly caused by greater demand than expected.
