The Danish Energy Agency has awarded 16 licenses for oil and gas exploration in the North Sea in the seventh bidding round.

officials

A total of 12 companies have been offered the new licenses to make new discoveries over six-year period to increase the hydrocarbon production in the country.

DEA Deutsche Erdoel, in partnership with Dyas and the Danish state-owned company Nordsøfonden, has been offered two licenses with concession area of about 530km2 in the southern Central Graben in the western part of the Danish North Sea.

Initially, the licensees will invest a total of around DKK1bn ($152.8m) for subsurface studies to explore potential hydrocarbon resources in the new license areas.

Other licensees include Ardent Oil, Dana Petroleum, Hansa Hydrocarbons, DONG Energy, Danoil Exploration, Wintershall, Edison SPA, Hess and PA Resources.

Nordsøfonden director Peter Helmer Steen said: "Nordsøfonden looks forward to work together with the licence holders to investigate more of the Danish subsurface in order to increase the Danish reserves.

"The work that starts now is of great importance for both security of supply and the Danish economy."

Nordsøfonden said that the individual studies will help understand the overall potential in the Danish subsurface.

Steen added: "Since only a certain proportion of exploration licences lead to a commerciality agreement and later production, it is important to continuously initiate new exploration work."


Image: Denmark Minister for Energy, Utilities and Climate and Nordsøfonden official. Photo: courtesy of Nordsoefonden.dk.