While not a member of the CERE industrial Consortium, several representatives of the Danish Energy Agency took part in the 2014 Discussion Meeting.
“The production of oil and gas from the North Sea represents substantial value and has a major effect on the Danish economy,” says Geologist Flemming Ole Rasmussen, Danish Energy Agency.
Current estimates by the agency predicts a final recovery rate of 26 % to be reached as production in the Danish part of the North Sea is expected to be terminated some decades ahead.
“This may sound like a meagre result, and if you consider the issue superficially, you would think that almost nothing has been achieved, as a recovery rate of that magnitude was expected for a long time. However, we should not forget that the total reserve estimates have been largely increased over the latest decades. Fields that were previously considered impossible to produce, and which thus were not counted in the reserves, are now included. So a recovery rate of, say, 26 % corresponds to a far higher total figure than it did earlier. This has tremendous economic impacts, and I think CERE should be proud of having contributed to these improvements in technology.”