New Era For Danish Oil and Gas Production
It seems like the Danish oil and gas industry has a positive outlook regarding finding new sources of oil and gas in the Danish North Sea. No oil has been discovered in the area but that’s not stopping companies from placing bids to get licenses to explore the area.
Oil production in the country has been in the decline since 2004 due to multiple issues that include exhaustion of the fields so the increase in bids is definitely an encouraging and welcome sign for the government. Denmark has been producing its own supply of gas for its domestic needs since the 80s. The supply has been in the decline.
In the past year alone, the production of oil went down by around 13 percent. Still, based on current supply, the country is expected to remain a net exporter of gas up to 2025.
Read More At – http://cphpost.dk/news/fuel-for-speculation-does-increased-interest-mean-an-oil-renaissance.11437.html
Terry Smeader
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Tags: Danish, oil and gas
