New Research Center to Focus on Improving O&G Output in Danish North Sea
- Business & Finance
The Danish Underground Consortium (DUC) has initiated the establishment of a new Danish research center in collaboration with leading Danish and foreign universities. The research center’s efforts are directly aimed at improving oil and gas production from the Danish sector of the North Sea.
The research center management is to encourage, mature and recommend new research projects aimed directly at increasing production and earnings from the North Sea. Another part of the initiative is, together with the universities, to stimulate interest in oil and gas relevant disciplines among students, thus ensuring that Denmark will have the necessary knowledge and workforce to continue an effective and safe extraction of oil and gas in the Danish North Sea for many years to come. Financing of projects are decided by DUC partners A.P. Moller – Maersk, Shell, Chevron and Nordsøfonden.
“It is an important task for Denmark to get the maximum benefit from North Sea oil and gas in the future, why it’s the research center’s primary purpose to support this. Preparatory work, including the composition of the research center’s management and the formulation of the specific areas of research has begun and are expected to be completed by the end of the year,” said Senior Vice President of Maersk Oil, Troels Albrechtsen.
The management of the research center, whose purpose is to coordinate and support an expanded research effort together with leading universities in Denmark and abroad, are expected to be placed at the Technical University of Denmark (DTU). Maersk Oil is in dialogue with DTU’s management regarding this. Besides DTU, Maersk Oil are planning to involve other major research environments, including the University of Copenhagen, Aarhus University and Aalborg University, in setting the framework and conditions for the new research center in order to achieve the best possible foundation for success.
Maersk Oil is the operator of all licences held by A.P. Møller – Mærsk A/S, on the behalf of the DUC which comprises A.P. Møller , Shell and Chevron.
In July 2012, state-owned Danish North Sea Fund entered the DUC with a 20% interest, diluting the shares of A.P. Møller (31.2%), Shell (36.8%) and Chevron (12.0%).