Oil production is written up 5 % in 2011 while production of sales gas is written up 17 % in 2011.
The Danish Energy Agency has updated the five-year forecast for oil and natural gas production, investments and costs for exploration, operation and oil and gas transportation. The DEA publishes its forecasts in its annual report “Denmark’s Oil and Gas Production” and updates the forecasts at the end of every year.
For 2011, oil production is expected to total 13.2 million m³, equal to about 228,000 barrels of oil per day. This is a 7 per cent decline on 2010, where oil production totaled 14.2 million m3. Compared to the annual report from June the expected production for 2011 is written up 0.6 million m3 corresponding with 5 per cent. The upward adjustment is mainly caused by further expectations to the production from Halfdan and Tyra.
For the period 2012 to 2015 minor revisions have been made compared to the annual report, and total estimated production for this period is unchanged compared with the annual report.
Natural gas production is expected to total 5.6 billion Nm3 in 2011. On 2010 this is a 21 percent decline. In 2010 natural gas production totaled 7.1 billion Nm3. Compared to the annual report the expected production of natural gas for 2011 is written up 0.8 billion Nm3 corresponding with 17 per cent. The upward adjustment is mainly caused by greater demand than expected especially for the period May to and July.
In the forecast period production is expected to decline towards 2013 and then increase to 4.5 billion Nm3 in 2015. For the period 2012 to 2015 minor revisions have been made compared to the annual report, and total estimated production for this period has been written down 2 per cent compared with the annual report.