2P Reserves
DONG Energy’s oil and gas reserves (2P reserves) amounted to 392 million boe at the end of 2008 compared with 352 million boe in 2007. DONG Energy has consequently more than replaced reserves equivalent to production in 2008. The new reserves come predominantly from development of Oselvar. The acquisition of a further stake in Ula also contributed to the increase in reserves.
The lifespan of the reserves
The lifespan of the reserves (calculated as 2P reserves at end-2008 to production in 2008) was 21 years.
This figure is expected to decrease when the Ormen Lange field reaches full production in 2010.
Production amounted to 18.5 million boe in 2008, including 54% oil and 46% gas. Production came from Ormen Lange (44%) and from the mature fields Ula, Gyda, Tambar and Glitne in Norway (25%) and Syd Arne, Siri, Nini and Cecilie in Denmark (31%).
Mature fields
Production from mature fields in 2008 was on a par with 2007, exceeding expectations. The increased ownership interest in the Ula field contributed positively to production. New production wells on the Gyda field boosted production. Production from the Tambar and Syd Arne fields dropped marginally. Production from the Danish fields Siri, Nini and Cecilie was on a par with 2007.
Ormen Lange
In 2008, Ormen Lange produced 8.1 million boe, matching expectations. Following treatment at the plant in Nyhamna, the gas is transported to the UK and continental Europe through the 1,200-kilometre Langeled pipeline and the connected pipelines within the Gassled infrastructure. The Ormen Lange field is expected to reach full production in 2010.
DONG Energy’s gas production
As a result of the large gas volumes from Ormen Lange, DONG Energy’s gas production is expected to exceed its oil production
as early as 2009.
