Country Report
Denmark upstream summary
*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.
Table of contents
- 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
-
Licensing
- 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
- Sixth round
- Seventh round
- Eighth round cancelled
- Licensing costs
- Out of round awards
- Open door procedure
- CO2 storage licensing
- Carbon capture funding
-
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
- Summary of modelled terms
- Transitional terms for pre-2004 non-DUC licences (rounds 1 to 5)
- Additional petroleum tax (Hydrocarbon Chapter 3 hydrocarbon tax)
- 2014 changes of fiscal terms (pre-2004 non-DUC licences)
- 2004 changes of fiscal terms (DUC and new non-DUC licences)
-
Overview
Tables and charts
This report includes 40 images and tables including:
- Key facts: Table 1
- Country map
- Net Acreage 2024
- Reserves and contingent resources at 01/01/2024
- Liquids and Gas Production 2024
- Reserves and resources: Table 1
- Remaining and Produced Liquids and Gas Reserves
- Reserves and resources: Table 2
- Reserves and resources: Table 3
- Basin map
- Liquids production by development status
- Production: Table 1
- Production: Table 2
- Production: Table 3
- Production: Table 4
- Gas production by development status
- Production: Table 5
- Production: Table 6
- Production: Table 7
- Production: Table 8
- Infrastructure: Table 1
- Danish oil and gas infrastructure
- Drilling activity by well type
- Geological and commercial success rates
- Infrastructure: Table 2
- Costs: Table 1
- Costs: Table 2
- Country capital expenditure (US$ Million)
- Costs: Table 3
- Costs: Table 4
- Policy and regulation: Table 1
- Policy and regulation: Table 2
- Fiscal terms
- Fiscal terms: Table 2
- Fiscal terms: Table 3
- Fiscal terms: Table 4
- Fiscal terms: Table 5
- Active legacy terms
- Historical background
- Fiscal terms: Table 8
What's included
This report contains:
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