Page 31 - Danish Offshore Industry 2015
P. 31
GREAT EXPECTATIONS FROM THE NATIONAL STRATEGY A long-term strategy for the North Sea is underway, and Oil Gas Denmark is calling attention to Denmark possibly heading for a DKK 190 billion revenue from taxation. Three key messages are important to Oil Gas Denmark while formulating a long-term development plan for the North Sea together with i.a. the Danish Energy Agency, the Ministry of Climate, Energy and Buildings, the Minis- try of Finance and the Ministry of Business and Growth. PREVIOUS Increasing exploration, production from marginal felds and an increase in the percentage of recovery from CALCULATIONS SHOW the reservoirs are the decisive engines for growth, but succeeding that, the potential is considerable. The DEA THAT THE TAX REVE- has estimated a potential for producing some 1.4 billion NUE COULD ADD UP barrels of oil and gas corresponding to about 40% of all the hydrocarbons having been produced since 1972. TO DKK 190 BILLION That means pouring a sizable amount of money into the national treasury. “In relation to our strategy work we and the au- thorities involved are looking at the still unproduced time he is mentioning that the increasing demand for potential of the Danish North Sea. Previous calculations oil is a signifcant perspective when talking future of the show that the tax revenue could add up to DKK 190 bil- branch. lion – naturally depending on factors like the oil prices “Oil and gas is a vital commodity, and it will stay and the rate of exchange of the dollar, but under all so for many years from now. We expect an increasing circumstances it makes up a considerable contribution to demand for oil as well as gas in the years to come – espe- the Treasury,” states Director Oil Gas Denmark, Martin cially as oil at the moment is diffcult to replace. One of Næsby, who is pleased that working out a national the main challenges is transport. Our society is structured strategy has been launched to the beneft of the oil com- in such a way that we go on holiday by air, drive a car panies as well as to their supply industry. At the same and ship goods all over the world. Without oil and gas the world as we know it today would come to a stand- still. In addition to that we should not forget the welfare fnanced by the revenue from oil and gas. Last year the FACTS branch paid DKK 22 billion in direct taxes, provided / OIL GAS DENMARK WAS FOUNDED IN 2012 AS A thousands of jobs, indirect taxes and a massive contri- BRANCH ORGANIZATION FOR DANISH COMPANIES bution to the balance of payment. So, we need oil in DIRECTLY OR INDIRECTLY INVOLVED IN PRODUCTION Denmark. We need oil for energy, and we beneft from OF OIL AND GAS. it as a contributing factor to the Danish society – that is what the strategy is to consider. Production-wise the / THE ORGANIZATION BY NOW HAS MORE THAN 70 North Sea has culminated, but there still is a considerable MEMBER-COMPANIES. potential to beneft from. I am pleased that we have launched a cooperation jointly looking at potentials as / THE SCOPE OF THE ORGANIZATION IS TO CREATE well as hindrances preventing continued growth,” warns ADDED VALUE OF THE PRODUCTION IN THE NORTH Martin Næsby adding that there are still quite a number SEA. of challenges to be overcome. “The number of wells being drilled have dropped to ▲ 31 / GREAT EXPECTATIONS FROM THE NATIONAL STRATEGY
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