BlueNord welcomes the government's invitation to the Danish Underground Consortium (DUC) to investigate the possibilities for a license extension so that oil and gas production can continue towards the politically determined stop in 2050.
This is stated by BlueNord in a press release.
BlueNord is a co-owner of the Tyra, Gorm, Halfdan and Dan fields in the Danish part of the North Sea and is part of DUC together with TotalEnergies and the state-owned underground company Nordsøfonden. The consortium accounted for 80 percent of Danish oil and gas production in 2024. The ownership shares in DUC are divided as follows: 43.2 percent to TotalEnergies, 36.8 percent to BlueNord and 20 percent to to the North Sea Fund.
The invitation comes after the DUC partners themselves have approached the government with an interest in extending the license to 2050 in accordance with the North Sea Agreement from 2020. According to the company, an extension should contribute to European security of supply and ensure the utilization of Danish resources during the transition period.
- Europe's need for oil and gas will be significant for many years to come, which means that a large part of the energy supply must continue to be covered through imports from countries outside Europe - including Russian gas and liquefied natural gas from, among others, the USA and Qatar. At the same time, the EU has decided to completely stop importing Russian gas by 2027 at the latest. This creates a significant need to ensure alternative and stable supplies so that Europe's energy supply remains robust, says Euan Shirlaw, CEO of BlueNord.
BlueNord also owns the CCS company CarbonCuts, which has been awarded an exploration license for onshore CO2 storage at Rødby in collaboration with the North Sea Fund.
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