Denmark’s Energy Agency said on Thursday it had raised its output projections for oil and gas for the 2023-2027 period by 5% and 2%, respectively, as more projects were executed.

Denmark’s oil output will peak in 2030 while gas output will do so in 2028, the agency said in a statement.

The Nordic nation now expects to produce 58,000 barrels of oil per day in 2023 from its offshore North Sea fields, an increase of 4% compared to projections made a year ago, the agency said.

Natural gas output available for sale is meanwhile seen measuring 16,000 barrels of oil equivalent this year, an increase of 14% from earlier projections, the agency said.

Neighbouring Norway, Europe’s largest petroleum producer, pumps around 2 million barrels of oil per day and natural gas corresponding to some 2 million barrels of oil equivalent.
Source: Reuters (Reporting by Terje Solsvik, editing by Anna Ringstrom)