Spilleregler for dansk sokkel – Perspektiver fra

Spilleregler for dansk sokkel –
Perspektiver fra et utenlandsk selskap
Offshoreenergy.dk Årsmøte Odense 24th October 2014
Sidsel Nørstebø, Bayerngas Norge AS
DM#72295
2014-05-07
Bayerngas Norge AS
Active player in Norway, Denmark and the UK since 2006/2007
o 67 exploration licenses (5 as operator)
o 3 licenses in Development Execution (Hejre in Denmark, Cygnus in the UK, Ivar Aasen in Norway)
o 2 licenses in Development Planning (Solsort in Denmark)
o 6 producing fields with total production of 20 000 boe/day
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Bayerngas Norge AS in Denmark
Broad experience with offshore infrastructure in Denmark
o Negotiations with Danish infrastructure owners since 2008 (Trym, Hejre, Solsort)
o Production and export of oil and gas via Danish infrastructure since 2011 (Trym)
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Trym development a success story
Production on the Norway Continental Shelf
Utilizing existing DUC owned facilities on the
Danish Continental Shelf for processing
Trym
Figur
Oil and Gas export to Denmark through existing
Dong owned infrastructure
Gas delivery to Bayerngas owners in Germany
through swap arrangement
Trym important in Bayerngas portfolio and
generates income for new developments on the
Norwegian Continental Shelf
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Hejre development in Denmark
New infrastructure developments on the
Danish Continental Shelf Offshore and
Onshore
Figur
Oil and gas export to Denmark partly
through existing Dong owned infrastructure
and partly through new infrastructure
Gas delivery to Bayerngas owners i
Germany through swap arrangement
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The oil and gas industry in Denmark – short & long term
Danish long term objective : Energymix without oil and gas by 2050
– The Minister of Climate, Energy and Building – Oct 2014
Oil and Gas still an important share of the energymix
– Self-sufficient with oil and gas over the last 20 years
Optimize production of remaining reserves
– Remaining reserves mainly in mature or marginal fields
– Time critical development due to aging infrastructure
Maximize value creation to the benefit of the society
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Danish offshore industry today – some observations
Few players
Immature regulations
Ageing infrastructure
Declining production
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Few players dominate the oil and gas business in Denmark
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Roles and strategies in the oil and gas value chain
Exploration and Production
– High risk - high return, the accepted business model
Infrastructure
– Regulated business with modest return
– Limited risk if shippers take the volume risk
– Access on equal and transparent terms
– Recent trends
– Infrastructure ownership is being transferred from oil companies to pension funds etc.
– Operation of export infrastructure by Independent System Operators (e.g. Gassco)
Marketing
– Heavy involvment by Competition Authorities
– REMIT/EMIR regulations
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Regulation of the offshore industry
New regulation for use 3rd party owned infrastructure
– Access based on negotiated terms
Danish Energy Regulatory Authority (DERA) focus on terms for use of the gas export infrastructure
– Important improvements achieved
– Still unsolved issues – in particular related to bundling of services and costs of balancing
Danish Energy Agency (DEA) focus on terms for use of the oil export infrastructure
– Important and constructive but also necessary involvement
Current tax system still a challenge
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Ageing infrastructure
Production regularity
Maintenance philosophy
Independent System Operator also with
responsibility for coordination of
maintenance
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Declining production on the Danish Continental Shelf
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How to attract new interest for the Danish offshore industry?
Make it easy for newcomers
1. Motivate exploration through incentives
2. Continue to improve regulation
3. Clarify roles and responsibilities
- reduce potential conflict of interest situations
4. Secure transparency and predictability
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