chapter  8
23 Pages

The Development Decision and Danish Oil

WithJerome D. Davis

If it is true, as stated in Chapter 7, that the Danish concession – seen in contractual perspective – is unique in the freedom it gives the oil multinational companies, the development decision in the Danish context can provide valuable insights as to how companies behave in the absence of the normal North Sea licensing requirements. This is particularly true in the case of the Danish oil fields as high-cost resources. They are much smaller than the gas fields.