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

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