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Bloomberg: Denmark’s DUC Says May Oil, Condensate Output Fell 4.6%

By Bunny Nooryani

June 15 (Bloomberg) — Dansk Undergrunds Consortium, which accounts for more than 80 percent of Denmark’s petroleum output, said oil and condensate production slid 4.6 percent in May from a month earlier.

Average production dropped to 265,500 barrels a day from 278,400 barrels a day a month earlier, Maersk Oil, which operates the venture, said on its Web site today. The group’s natural-gas output rose to 501 million standard cubic meters in May from 495 million cubic meters the month before.

Total production so far this year amounts to 41.3 million barrels of oil and condensate, and 3.05 billion standard cubic meters of gas.

Dansk Undergrunds Consortium, or DUC, was set up in 1962 to explore and develop Denmark’s petroleum resources. The group’s output comes from fields in the Danish North Sea.

Maersk Oil is the oil-production unit of A.P. Moeller-Maersk A/S, the world’s biggest shipping company. A.P. Moeller holds 39 percent of DUC. Other partners include Royal Dutch Shell Plc with 46 percent and Chevron Corp. with 15 percent.

To contact the reporter on this story: Bunny Nooryani in Oslo at [email protected]
Last Updated: June 15, 2007 05:52 EDT

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