The Danish Energy Agency (DEA) has approved the indirect transfer of interests in four licenses that had been granted to Wintershall Dea International.
London-based Harbour Energy is in the process of acquiring much of the Wintershall Group, including Wintershall Dea’s interests in two offshore hydrocarbon permits and two CO2 permits.
These can all now be transferred indirectly to Harbour.
Permits 4/95 (Nini) and 16/98 (Cecilie) are for the exploration and extraction of hydrocarbons in the Danish North Sea.
C2023/01 (Iris) allows for storage of CO2 in the subsurface in the North Sea, while C2024/01 (Greenstore) covers exploration of CO2 storage on land at Gassum.
Wintershall has 42.857% of Nini, 43.59% of Cecilie and 40% of the CO2 permits. The INEOS Group owns the remaining percentages in the hydrocarbon licenses and 40% of the CO2 licences, with the Danish state’s Nordsøfonden owning the remaining 20%.
INEOS is operator of the hydrocarbon licenses and Iris, while Wintershall is the operator of Greenstore.
The DEA’s approval remains subject to the condition that Harbour provides parent company guarantees for the fulfillment of obligations in the licenses—and also the two previous owners of Wintershall International (BASF and LetterOne)—submit declarations of subsidiary liability for liquidation costs associated with the hydrocarbon licenses.
