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Decision to develop the Hejre Field in the Danish North Sea

Decision to develop the Hejre Field in the Danish North Sea
Decision to develop the Hejre Field in the Danish North Sea

Denmark to become a major area of investment for Bayerngas Norge AS.

The Board of Bayerngas Norge AS approved Friday 24th February 2012 the development of the Hejre fieldthrough its fully owned subsidiaries Bayerngas Danmark ApS (15% in Hejre) and Bayerngas PetroleumDanmark AS (25% of Hejre).

Total investment in the development is DKK 12.1 billion. The 40% share of Bayerngas is DKK 4.8 billion. DongEnergy is the operator. The Hejre field is located in the western part of the Danish continental shelf, close to the Norwegian sector. DONG Energy estimates the total reserves of the Hejre field at approx. 170 million barrels of oil equivalents –Bayerngas share is approx. 70 million barrels – and first oil and gas is expected late 2015. The development comprises a production platform, drilling of production wells and new pipelines that will betied into existing North Sea pipelines. From here, the oil and gas from Hejre will be transported to mainlandDenmark. The oil will be further transported to the East coast of Denmark and processed at the oil terminal in Fredricia.