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Denmark Oil and Gas Report Q2 2016

Denmark Oil and Gas Report Q2 2016

BMI View: We expect a partial but temporary recovery in oil and gas volumes over the medium term, assmall developments come online. Past 2019 however, production will resume to the downside. While thecountry should remain a net oil and gas exporter throughout most of our forecast period, exports willbecome increasingly thin. We note increasing downside risks to our production forecast as the start-up datefor the Hejre field is increasingly uncertain.

Latest Updates And Key Forecasts

Oil and gas reserves are depleting for this small mature North Sea producer and we do not expect thecountry to significantly reverse this trend. Ongoing exploration and the recent licensing round could yieldupside risk to our forecast by the end of our forecast period. However, the strong decline in oil prices andour expectation of a lower price environment over the coming years temper this upside risk.

Total abandoned shale exploration in Denmark in August 2015 due to disappointing exploration results.We expect the low oil and gas price environment will dissuade further shale gas exploration over thecoming years.

New World Oil and Gas relinquished its licenses in both the onshore Danica Jutland Project andoffshore Danica Resources Project following the expiry of its licenses in September 2015. This isreportedly due to the company not finding a farm-in partner despite the analysis highlighting the licenses'prospectivity, significantly re-risking the licenses and finding one drillable prospect

Oil and gas production will increase slightly over the coming years as several small developments willhelp production recover. Overall, Denmark's hydrocarbon production trend clearly remains one ofdecline, with strong depletion rates at maturing fields. We note increasing downside risks to both oiland gas production due to delays on the Hejre field.



With a continuous fall in energy intensity, increased fuel efficiency and a progressive increase inrenewable energy consumption, we expect domestic oil and gas consumption will decrease throughoutour forecast period.


BMI Industry View
Table: Headline Forecasts (Denmark 2014
2020)
Latest Updates And Key Forecasts
SWOT
Oil & Gas SWOT
Industry Forecast
Upstream Exploration
Latest Updates
Structural Trends
Table: Companies Applying In Denmark's Seventh Licensing Round
Upstream Projects
Table: Denmark Major Upstream Projects
Upstream Production Oil
Latest Updates
Structural Trends
Table: Oil Production (Denmark 2014
2019)
Table: Oil Production (Denmark 2020
2025)
Upstream Production Gas
Latest Updates
Structural Trends
Table: Gas Production (Denmark 2014
2019)
Table: Gas Production (Denmark 2020
2025)
Refining
Latest Updates
Structural Trends
Table: Refining Capacity and Refined Products Production (Denmark 2014
2019)
Table: Refining Capacity and Refined Products Production (Denmark 2020
2025)
Refined Fuels Consumption
Latest Updates
Structural Trends
Table: Refined Products Consumption (Denmark 2014
2019)
Table: Refined Products Consumption (Denmark 2020
2025)
Gas Consumption
Latest Updates
Structural Trends
Table: Gas Consumption (Denmark 2014
2019)
Table: Gas Consumption (Denmark 2020
2025)
Trade Oil
Crude Oil Trade Forecasts
Latest Updates
Structural Trends
Table: Crude Oil Net Exports (Denmark 2014
2019)
Table: Crude Oil Net Exports (Denmark 2020
2025)
Refined Fuels Forecast
Latest Updates
Structural Trends
Table: Refined Fuels Net Exports (Denmark 2014
2019)
Table: Refined Fuels Net Exports (Denmark 2020
2025)
Trade Gas (Pipeline And LNG)
Latest Updates
Structural Trends
Table: Gas Net Exports (Denmark 2014
2019)
Table: Gas Net Exports (Denmark 2020
2025)
Industry Risk Reward Index
North America And Western Europe Oil & Gas Risk/Reward Index
Table: North America And Western Europe
Oil & Gas Risk/Reward Index
Upstream: North America To Maintain Lead
Table: North America And Western Europe
Upstream Risk/Reward Index
Downstream: US Widens Lead
Table: North America And Western Europe
Downstream Risk/Reward Index
Denmark Risk/Reward Index
Denmark Upstream Score Overview
Denmark Upstream Score Rewards
Denmark Upstream Score Risks
Denmark Downstream Score Overview
Denmark Downstream Score Rewards
Denmark Downstream Score Risks
Market Overview
Denmark Energy Market Overview
Fiscal Regime
Table: Denmark
Upstream Tax Regime
Licensing Regime
Licensing Rounds
Oil & Gas Infrastructure
Oil Refineries
Table: Refineries In Denmark
Service Stations
Oil Storage Facilities
Oil Pipelines/Terminals
LNG Terminals
Gas Storage Facilities
Gas Pipelines
Competitive Landscape
Table: Key Players
Danish Oil And Gas Sector
Table: Key Upstream Players
Table: Key Downstream Players
Company Profile
DONG Energy
Royal Dutch Shell
Other Summaries
Regional Overview
North America And Western Europe Oil And Gas Regional Overview
Table: North America
Key Regional Indicators, 20132024
Table: Western Europe
Key Regional Indicators, 20132024
Glossary
Table: Glossary Of Terms
Methodology
Industry Forecast Methodology
Source
Risk/Reward Index Methodology
Table: Bmi's Oil & Gas Upstream Risk/Reward Index
Table: Weighting

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