Page 11 - Danish Offshore Industry 2015

7TH CONCESSION ROUND – A NEW STARTING SIGNAL Peter Helmer Steen: “It is of paramount importance that the resources of the North Sea are exploited to their maximum.” to a grand total of 4.2 billion barrels of oil and 250 bil- a renovation. That will be a relevant opportunity for 3 lion m of gas, so one of the major hurdles is to raise the taking a look at how the entire production system in the percentage of recovery. North Sea should look. The renovated infrastructure is to “It is absolutely decisive that we can make use of last for the next 30-40 years, so it is a subject which the these resources by producing more than just the present government as well as the oil companies should strongly 25-30% of the oil waiting for us in the underground. consider. How can we arrange that new companies are That will earn billions of DKK to Denmark as well as to able to pipe their oil and gas ashore, and how can they the concession holders, but to achieve that we shall have do it in a cost-effcient way?” asks Peter Helmer Steen in to apply new knowledge and new production technol- a rhetorical way. ogy. That will provide the new Center for Oil and Gas – DTU with a key position as they are to develop new DECISIVE FOR THE DANISH SHELF technologies and train people to use it,” explains Peter The plans of more frequent concession rounds may Helmer Steen who together with the other partners of attract even more new companies, so to maintain that the Danish Underground Consortium has provided the interest it is important that the costs of production are money for the new center. lowered as much as possible. ▲ ABLE TO EXPLOIT NEW DISCOVERIES Expected technological advances combined with the sig- th nifcant interest in the 7 Concession Round tell of faith in the future, and as a consequence the Danish North Sea Fund wishes to take a more nuanced look upon the future structure of the Danish offshore industry. THE CONCESSION “We have made a reasonable guestimate of how much oil and gas there is in the underground, and, actu- ROUND HAS SHOWN ally, there are huge deposits of oil. Now, it is our job to see to that as much as possible of the resources already THAT MORE PEOPLE spotted are recovered, and then we shall locate the rest. THAN ME BELIEVE IN After that it is a question of ensuring that when some- body strikes oil or gas, we are able to produce it, and to THE POTENTIAL OF that purpose we shall arrange for a better infrastructure – an investment amounting to several billions of DKK,” THE NORTH SEA informs Peter Helmer Steen who is going for a number of principal solutions. “The Tyra-feld, for instance, in a few years will need 11 / THE 7TH CONCESSION ROUND