Denmark upstream summary Report

Country Report 30 April 2024

Get this report*

$11,340

You can pay by card or invoice

Share link

First name
Last name
Job Title
Company
Email
Telephone

Country

Message

Consent

Please keep me informed about Wood Mackenzie products, services and events.

Submit Category

For details on how your data is used and stored, see our Privacy Notice.

- FAQs about online orders
- Find out more about subscriptions

*Please note that this report only includes an Excel data file if this is indicated in "What's included" below

Report summary

Denmark has a mature upstream sector which is in terminal decline. Hydrocarbon production is all offshore. Reserves are small compared to Norway and the UK, but there are still some large accumulations. The corporate landscape in Denmark has a clear north/south divide. The south is dominated by the Dansk Undergrunds Consortium (DUC), which is comprised of Total (operator, formerly Maersk), Noreco and direct state representative - Nordsoefonden. The north production area includes new entrant Ineos, and legacy players Hess Corporation, Danoil and Wintershall Dea. The Government has called time on the industry, with exploration and production activities to end by 2050. The move affirmed Denmark's direction of travel on climate change.

Executive summary
Key facts
Location maps
Key companies
Geology
- Introduction
- Central Graben
- Danish-Norwegian basin
- Ringkøbing-Fyn High
- North German basin
- Rønne Graben
Exploration
- Licensing
  - Restrictions on oil and gas licensing and exploration
  - 2023 Mini-bid round cancelled
  - Formal licensing rounds
  - Adjoining area procedure
  - Carbon storage licensing
- Drilling
  - Drilling activity
  - Exploration by licence round
  - Success rates
Reserves and resources
Production
- Liquids
- Gas
Infrastructure
- Oil infrastructure
- Refineries
- Gas infrastructure
  - Export infrastructure
  - Nybro gas terminal
  - Gas storage
Costs
- Introduction
- Capital costs
  - Capital expenditure by location
- Operating costs
  - Operating expenditure by location
Policy and regulation
- Key legislation
- Regulatory body
- State oil company
  - DONG (1973-2017)
- Licensing
  - State participation
  - Danish area division
  - Licensing history
  - First round
  - Second round
  - Third round
  - Fourth round
  - Fifth round
  - 8 more item(s)...
Fiscal terms
- Overview
  - Upstream
  - Mid/Downstream
- Current fiscal terms
  - Government equity participation
  - Royalty
  - Corporate Income Tax (Hydrocarbon Chapter 2 CIT)
  - Hydrocarbon Tax (Chapter 3A)
  - Temporary Tax Regime 2017
  - Fiscal treatment of decommissioning costs
  - Product pricing
  - Emissions taxes
  - 5 more item(s)...