November 21, 2012 / 8:01 AM / 7 years ago

Danish 2012 oil production seen down 9 pct-Energy Agency

COPENHAGEN, Nov 21 (Reuters) - Forecasts for Denmark’s oil and gas production this year was downgraded on Wednesday to a 9 percent fall compared with last year, the Danish Energy Agency said in a report obtained by Reuters.

The report said oil production was now expected to be 11.6 million cubic metres, or about 199,000 barrels per day, a 9 percent decline compared with 2011, when output was 12.8 million cubic metres.

Denmark is the third biggest oil and gas producer in western Europe but is lagging Norway which produced 97.3 million cubic metres in 2011, or 1.7 million barrels per day.

Compared to the annual report from May this year, the expected production for 2012 was downgraded by 0.2 million cubic metres, or about 2 percent.

The downwards adjustment was mainly caused by reduced expectations to the production from the South Arne Field.

The Danish Underground Consortium (DUC), owned by the Danish state, A.P. Moller-Maersk, Chevron and Royal Dutch Shell, is responsible for most of the output from Denmark’s North Sea oil and gas fields.

Denmark’s gas production is expected to total 4.7 billion normal cubic metres in 2012, a decline of 16 percent on last year.

The new forecast represented a 0.4 billion cubic metres upgrade compared with the agency’s May report , corresponding to 9 percent, it said. The upward adjustment was mainly caused by higher-than-expected demand.

The agency expects Danish oil production to decline further in coming years.

Total estimated production for the period 2012-2016 was revised downwards by 3 percent compared to the report from May, the agency said.

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