DONG Energy to Let Svane Licence Expire (Denmark)

DONG Energy to Let Svane Licence Expire (Denmark)

DONG Energy and partners have, following detailed technical evaluations, decided at the present point in time not to pursue drilling of an appraisal well in the Svane field.

The gas accumulation in Svane is found at a depth of 5.5-6 km at a pressure of 1200-1300 bar which is considered at the edge of what can be managed by present technology.

The appraisal drilling was announced in January 2010 with an expected cost of DKK 0.6 – 0.9 billion.

The 04/98 Svane licence expires on 01 January 2013.

DONG Energy, operator, holds a 35% ownership share of the Svane licence, Bayerngas Danmark ApS 30%, Nordsøfonden 20%, and VNG Danmark ApS 15%.

[mappress]
Press Release , December 24, 2012

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