DENMARK WILL COMPLETELY CEASE FOSSIL FUEL ACTIVITIES BY 2050
Denmark will no longer increase oil extraction in the North Sea, after a majority in parliament voted against continuation of the practice.
The Copenhagen Post reported on December 4th: “Since the early 1970s, oil and gas production has pumped billions of kroner into the Danish economy over the years. But in 30 years’ time, it’ll all be over.”
In the meantime, limited drilling in already-active areas will be allowed to continue.
The parties who voted through the North Sea agreement have prevented a new round of bidding for concessions that would have continued oil extraction until the mid-2050s, according to climate minister Dan Jørgensen.
“That we have made this decision will echo across the world. It dovetails with our decision to be fossil fuel free by 2050,” Jørgensen said.
As part of the deal, the government has cancelled the current eighth licensing round for North Sea rights – as well as any future licensing bidding rounds.
The writing was perhaps on the wall in October when French oil giant Total announced it was withdrawing its bidding application for the eighth round.
Tyra Field is the largest gas condensate field in the Danish Sector of the North Sea. It was discovered in 1968 and production started in 1984. The field is owned by Dansk Undergrunds Consortium, a partnership between Total, Noreco and Nordsofonden, and operated by Total. The reservoir depth is about 2,000 metres (6,600 ft) and it covers area of 90 kilometres in the water depth of 37–40 metres (121–131 ft)
In August 2017 Maersk Oil was sold to Total S.A. with the takeover completed in 2018.
(Source: The Copenhagen Post/The Local – Pioneering spirit removing the Tyra field topsides in August 2020/Allseas)
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