The government has in collaboration with parties on both sides of the danish parliament agreed upon a new deal for the future of licensing in the North Sea. Further licensing rounds are cancelled, while mini rounds and neighbour licenses continue, and production will halt in 2050. The long-negotiated deal creates clarity and stability for the oil and gas production in the North Sea.
“We are satisfied that a wide majority has agreed upon this policy that creates stability and clarity for the conditions in the coming years, which is crucial for investments in the North Sea. We need oil and gas in the coming years, both in Denmark and globally. The North Sea ensures continuous danish resource security, jobs, tax revenue – and not least an opportunity for Denmark to lead the pursuit of CCS ambitions. The agreement allows for future opportunities in utilizing the exploration potential and the use of the infrastructure in the North Sea – also for future purposes.”, says Martin Næsby, managing director, Oil Gas Denmark.