Oil and gas can now be extracted in, among other things, the Hejre field in the Danish part of the North Sea for up to seven years longer.
Thus, the Danish Energy Agency has notified Ineos E&P A/S that the exploration and production permits 5/98 and 1/06 have been extended from 15 October 2040 until 14 February 2047. The permits, which include, among other things, the Hejre field, are located approx. 300 km from the Danish west coast, the Danish Energy Agency informs in a press release.
"The extensions have been announced in accordance with Section 13, subsection 4 of the Subsoil Act and Executive Order No. 1366 of 28 September 2022 on the tasks and powers of the Danish Energy Agency. The extensions are announced, among other things, on the basis of special circumstances regarding serious project delays in the extraction," reads a statement from the agency.
Project has been affected by delays
In 2011, the Danish Energy Agency approved a plan for the development and operation of the Hejre Field. The development of Hejre has been affected by a number of production delays, including technical and quality challenges in connection with the construction of the Hejre platform, which led to the work being interrupted in 2016. Hejre has therefore only been partially developed.
In the period from 2016, the licensees have reassessed the expected reserves and prepared an alternative technical and commercial solution for the complete development of the Hejre field, which is adapted to a reduction in reserves and a shorter production period compared to the original estimates from 2011.
The project delays mean that there is likely profitable production after 2040.
Ineos is the operator of the Hejre licenses 5/98 and 1/06. The licensees for license 5/98 are 100 percent Ineos companies. While the rights to license 1/06 are 80 percent of Ineos companies and 20 pct. of the Nordsøfonden.
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