On the basis of its resource assessment, the DEA prepares short- and long-term production forecasts.
On the basis of an assessment of reserves, the DEA makes oil and gas production forecasts for the years to come.
Every other year, the DEA prepares a long-term production forecast, the so-called 20-year forecast. In the alternate years, the DEA prepares a short-term production forecast, the so-called five-year forecast.
Additionally, the DEA prepares an oil and gas consumption forecast, a so-called baseline scenario. The DEA uses this consumption forecast together with its oil and gas production forecasts to determine whether Denmark is a net importer or exporter of oil and gas.
Resources and reserves
The percentage of resources in a field expected to be recoverable over the life of the field is termed the ultimate recovery. The reserves of the field represent the percentage of ultimate recovery that has not yet been produced at any given time.
The DEA makes an assessment of Danish oil and gas resources every other year. The reserves reflect the amounts of oil and gas that can be recovered by means of known technology under the prevailing economic conditions. Thus, not all the resources-in-place are recoverable by means of known technology.