Slight slowdown in Danish activity
The Danish Energy Authority (DEA) has downgraded its production estimate for fields across the Danish shelf.
COPENHAGEN, Denmark --The Danish Energy Authority (DEA) has downgraded its production estimate for fields across the Danish shelf.
It now estimates that oil output over 2007 will be 5% lower than anticipated in its annual report, issued last June. This is due mainly to lower production projections from Arne South and Halfdan, two of the larger fields in the Danish North Sea.
In September, the DEA also approved plans to delay start-up of the Alma and Elly fields until January 2011. These have been factored into its latest five-year forecast, which suggests a steady decline in oil output from a total of 18.1MMcm in 2007 to 15.1MMcm in 2011.
DEA has scaled back its estimate of last year's gas production as well, to 8.1bcm, down 11% on the figure forecast in June. But it still foresees an increase to around 9bcm for 2008 and 2009.
As for expenditure, DEA expects total investments in 2007 of $1.39 bn in Danish field development projects, and $119 million in exploration.