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"Denmark Oil & Gas Report Q3 2014" Published

Fast Market Research recommends "Denmark Oil & Gas Report Q3 2014" from Business Monitor International, now available

 

Boston, MA -- (ReleaseWire) -- 06/13/2014 -- Denmark is likely to remain an oil and gas net exporter over our forecast period, despite production decline. The government is confident the country will sustain its position as a net exporter of oil and gas until the end of the decade. We expect a partial recovery in oil and gas volumes over the medium term. However, we forecast th at overall production will decline in the long term and that exports will become increasingly thin by the end of our forecast period . Should production surprise to the downside, or consumption to the upside, the country could see itself becoming a net oil and/or gas importer by the end of our forecast period.

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The main trends and developments in Denmark's oil and gas sector are:

- We are forecasting oil reserves to slowly decline from current levels of 805mn barrels (bbl)of oil to approximately 645mn bbl by the end of our forecasting period in 2023. Gas reserves are expected to stagnate, remaining between 40-50bcm throughout our forecast period. There is upside risk to our reserves forecast from ongoing exploration and the 7th Licensing Round initiated in April 2014.
- Denmark could also have sizeable shale gas resources. In December 2014, the US Geological Survey estimates that the Alum Shale in Denmark could contain about 193bcm of undiscovered, technically recoverable natural gas. This compares very favourably to Denmark's current gas reserves estimates of about 40bcm at the time of writing.We forecast that Denmark's oil production will continue its decline for the period 2013-2015. We anticipate Danish oil output to stabilise and even slightly increase from 2016 to 2018 to reach 190,880b/d in 2018 as a new field is brought online and as work is carried out to maintain production and increase output at mature fields. Past 2018 however, output will resume to the downside. We forecast Denmark's oil output to decline to about 167,530b/d by 2023.
- Declining oil consumption should help protect Denmark's...

The Denmark Oil & Gas Report has been researched at source and features Business Monitor International (BMI)'s independent forecasts for Denmark including major indicators for oil, gas and LNG, covering all major indicators including reserves, production, consumption, refining capacity, prices, export volumes and values. The report includes full analysis of industry trends and prospects, national and multinational companies and changes in the regulatory environment.

BMI's Denmark Oil & Gas Report provides professionals, consultancies, government departments, regulatory bodies and researchers with independent forecasts and competitive intelligence on the Danish oil and gas industry.

Key Benefits

- Benchmark BMI's independent oil and gas industry forecasts for Denmark to test consensus views - a key input for successful budgeting and strategic business planning in the Danish oil and gas market.

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