DONG Energy has sold 15% of the Svane and Solsort licences (4/98 and 3/09) in
the Danish sector of the North Sea to VNG Danmark ApS. DONG Energy is reducing
its licence interests as part of its portfolio optimisation.
An appraisal drilling of the Svane field carried out in 2001 by the then
operator ConocoPhillips indicated the possible presence of a large gas
reservoir. However, technical problems in connection with the drilling raised
uncertainty about the findings. For this reason, a new appraisal drilling is
required to determine the volumes and the possibilities of extracting the gas.
As announced earlier this year, the detailed planning of the appraisal drilling
will take place in 2010, and the licence group will then determine the final
time schedule for the appraisal drilling.
An exploration drilling of the Solsort field is yet to be initiated, but is
expected to take place this year.
Thus, DONG Energy has a 35% ownership interest and remains the operator of the
Svane and Solsort licences, respectively. The other owners are Bayerngas (30%),
the Danish North Sea Fund (20%) and VNG Danmark ApS (15%).
VNG Danmark ApS is a subsidiary of VNG Norge AS, which is, in turn, a
subsidiary of VNG - Verbundnetz Gas AG, headquartered in Leipzig.
The content of this announcement does not alter the previously announced
expectations for DONG Energy's financial result for 2010 or the announced
expected level of investments.
For additional information, please contact:
Media Relations
Ulrik Frøhlke
+45 9955 9560
Investor Relations
Morten Hultberg Buchgreitz
+45 9955 9750
DONG Energy is one of the leading energy groups in Northern Europe. We are
headquartered in Denmark. Our business is based on procuring, producing,
distributing and trading in energy and related products in Northern Europe. We
have approximately 6,000 employees and generated just under DKK 50 billion (EUR
6.6 billion) in revenue in 2009. For further information, see
www.dongenergy.com.
