May 31, 2012 / 7:56 AM / 7 years ago

Denmark sees 2012 oil production falling 8 pct

COPENHAGEN, May 31 (Reuters) - Denmark has kept its forecast for its 2012 oil production steady, with output still seen falling by 8 percent from last year, energy officials said on Thursday.

The Danish Energy Agency forecast oil production this year would be 11.8 million cubic metres, corresponding to about 203,000 barrels of oil per day.

The projection was up about 2 percent from a forecast of 11.6 million cubic metres given a year ago, but unchanged from the agency’s updated December figures.

Denmark’s oil production from its North Sea fields is expected to decline to 11.0 million cubic metres in 2013 and fall to 9.6 million in 2014 and 2015, and then rise to 11.7 million cubic metres in 2016, the government agency said.

Danish gas production is forecast to fall by 23 percent in 2012 from last year to 4.3 billion cubic metres and decline to 3.5 billion cubic metres in 2013, the energy agency said.

The Danish government’s income from North Sea oil and gas is forecast to be 30.0 billion Danish crowns ($5.06 billion) this year, assuming an average oil price of $120 per barrel, and is expected to fall to 22.0 billion in 2015, the agency said.

The government’s oil and gas income in 2011 totalled 30.6 billion crowns at an average oil price of $111 per barrel. ($1 = 5.9280 Danish crowns) (Reporting by Copenhagen newsroom)

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