Danish state oil player foresees revived North Sea pulse and more investment

With the framework in place for the Danish oil industry, new activity is again on the horizon for the country's North Sea fossil fuel sector, Nordsøfonden CEO Birgitta Jacobsen tells EnergyWatch.

Political uncertainty, Covid-19 and low oil prices have unsettled investment conditions for the Danish North Sea. Now state-owned oil group Nordsøfonden says its expects that situation to change. Photo: CLAUS FISKER//

While it's true that Denmark's recent North Sea fossil energy policy has set a final end date on extraction from 2050, the move has also created a basis for a new chapter for domestic oil and gas investments, says Chief Executive Birgitta Jacobsen from the state-owned oil group, Nordsøfonden.

"I think it's very positive that a broad majority in Danish Parliament supports ensuring stable conditions ahead of 2050. That's a long horizon, and so many projects that have been on stand-by due to an uncertain framework can be realized in that period," she tells EnergyWatch.

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