Denmark trims oil output forecast

Jun 13, 2007 02:00 AM

Denmark has cut its oil production forecast until 2010 by 9 % on average, the Danish Energy Authority said.
After producing about 125.8 mm barrels last year, Denmark is expected to pump 119.5 mm barrels this year, the statistics arm of Denmark's Ministry of Transport and Energy said in a report.

It forecast production to slide to 112 mm barrels in 2008, 106.3 mm barrels in 2009 and 101.3 mm barrels in 2010, due to lower output from three oilfields and start-up delays at a fourth.
The agency said Denmark had oil reserves of 1.51 bn barrels as of 1 January this year.

However, the Energy Authority upgraded its estimate for recoverable reserves to 34 % from 29 %.
It also said natural gas production will be 9.1 bn cm per year from 2007 to 2009, falling to 8.4 bn cm in 2010. It put Danish natural gas reserves at 120 bn cm.

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