DONG confirms oil and gas withdrawal

Offshore staff

COPENHAGEN, DenmarkDONG Energy has started the process of exiting oil and gas E&P, CEO and President Henrik Poulsen admitted in a statement to accompany the company’s latest results.

“This should be seen in the context of DONG Energy’s strategic transformation towards becoming a global leader in renewables and a wish to ensure the best possible long-term development opportunities for our oil and gas business,” he said. “There can be no assurance as to the outcome or the timing of the completion of the process.”

DONG is a partner in the Laggan-Tormore and Ormen Lange subsea-beach projects offshore the UK and Norway, and also operates various fields in the Danish North Sea.

11/08/2016

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now

Whitepapers

Shell Leverages Data to Transform from Reactive to Predictive Operations

This 6-page report describes how Shell engaged in a massive project with OSIsoft to transform the...

Selection, Use, Care and Maintenance of FR Clothing

For industries operating in an inherently dangerous environment, the importance of selecting the ...

Evolution or Revolution: IT / OT convergence means a world of possibilities

The oil and gas industry is experiencing a rapid paradigm shift in regards to digital transformat...

Predict, Prescribe, Profit: Creating a World that Doesn't Break Down

What are you doing to reduce unplanned downtime at your plant? Equipment breakdowns and process i...