According to the latest forecasts of the Danish Energy Agency (DEA), Denmark is set to become a net importer of oil in 2018, the first time since 1993 when it became a net exporter of oil and gas. Except for 2024, Danish oil consumption is expected to exceed the amount produced in the North Sea domestic oil fields. However, it will remain a net exporter of gas until 2035, except for a few years when the Tyra facilities will be rebuilt. The startup date of several fields and discoveries may be postponed while the reconstruction of Tyra facilities will result in a decrease in oil production in 2020 and 2021.
As of January 2018, Denmark's reserves and contingent oil resources stood at 139 mcm of oil, which accounts for 18 year of oil consumption while the domestic gas contingent resources and reserves amounted 72 bcm (approximately 1.2 Gbbl), which stands for 30 years of domestic gas consumption. For 2018, the DEA forecasts an oil production of 7.4 mcm/d (roughly 128,000 bbl/d), which constitutes a 10% downward revision compared with last year's estimate.
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