EnergyWatch

New Danish North Sea deal settled

The Danish government and companies operating in the North Sea have reached a new deal for oil extraction in the region. Maersk Oil says the agreement will allow for the full redevelopment of the Tyra gas field, which was otherwise facing closure.

Denmark's minister of finance Kristian Jensen (Danish Liberal Party, V) wrote on Twitter Wednesday evening CET that the government has settled a deal for the North Sea with the companies producing the oil in the region. The Ministry of Business wrote a similar statement.

Following the significant slide in the oil price, the companies behind the oil extraction have been looking to settle a new agreement that would make oil and gas extraction in the North Sea more profitable.

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