Denmark will now not enhance oil extraction within the North Sea, after a majority in parliament voted towards continuation of the follow.
The Copenhagen Post reported on December 4th: “Since the early 1970s, oil and fuel manufacturing has pumped billions of kroner into the Danish financial system over time. But in 30 years’ time, it’ll all be over.”
In the meantime, restricted drilling in already-active areas can be allowed to proceed.
The events who voted by way of the North Sea settlement have prevented a brand new spherical of bidding for concessions that will have continued oil extraction till the mid-2050s, in response to local weather minister Dan Jørgensen.
“That we’ve got made this determination will echo internationally. It dovetails with our determination to be fossil gas free by 2050,” Jørgensen stated.
As a part of the deal, the federal government has cancelled the present eighth licensing spherical for North Sea rights – in addition to any future licensing bidding rounds.
The writing was maybe on the wall in October when French oil big Total introduced it was withdrawing its bidding utility for the eighth spherical.
Tyra Field is the biggest fuel condensate subject within the Danish Sector of the North Sea. It was found in 1968 and manufacturing began in 1984. The subject 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 space of 90 kilometres within the water depth of 37–40 metres (121–131 ft)
In August 2017 Maersk Oil was bought to Total S.A. with the takeover accomplished in 2018.
(Source: The Copenhagen Post/The Local – Pioneering spirit eradicating the Tyra subject topsides in August 2020/Allseas)

The put up DENMARK WILL COMPLETELY CEASE FOSSIL FUEL ACTIVITIES BY 2050 appeared first on Energy Global News.

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