The world needs oil and gas due to the global population and wealth increase. We do not yet have viable alternatives. This goes for oil both as an energy source and as a component in industrial products. Along with the rest of the world we will be dependent on oil and gas for years to come even though as a nation we are striving towards being fossil-free in the long run. This is a challenge both in relation to securing energy supply and for economic development of our country.

Denmark still has an opportunity as the remaining oil and gas potential in the North Sea may provide significant value for the Danish society. This remaining potential would prolong Denmark’s self-sufficiency for a significant period of time and provide the country with an opportunity to continue developing the Danish society for decades to come. Other countries around the North Sea have already taken action and are now working toward a realisation of this potential. The Danish government has now initiated such strategy work, Thus, Denmark has now taken the first small steps to follow this path.

But what does it take to create a sustainable business environment for developing the oil and gas industry of tomorrow to the benefit of the society? How do we create an attractive and fair environment which can make the Danish continental shelf an attractive spot for investments both in today’s and tomorrow’s industry and in which way do we secure a competitive North Sea with the presence of the necessary technology, competent manpower and skilled expertise to actually unlock the society’s values.