DONG Energy and its licence partners Bayerngas (30% interest) and the Danish North Sea Fund (20% interest) have decided to carry out an appraisal drilling in the Svane field in the Danish sector of the North Sea. DONG Energy assumed the role of operator when the company acquired the Danish oil and gas activities of ConocoPhillips in 2007. An appraisal drilling carried out in 2001 by ConocoPhillips indicated the possible presence of a large gas reservoir. However, technical problems in connection with the drilling raised uncertainty about the findings. The owners of the field have now decided to carry out a new appraisal drilling with a view to determine volumes and the possibilities of extracting the natural gas, which is located at greater depth than any other field in Denmark. The field in question is technically challenging, and holds because of the depth of the reservoir of up till 6,000 meters high pressure and high temperatures. The costs of the appraisal drilling are therefore subject to uncertainty and is expected to amount to DKK 0.6 - 0.9 billion depending on the drilling results. DONG Energy's share makes up 50%. The detailed planning of the appraisal drilling will take place in 2010, and the license partners will thereafter decide upon the final timetable for the drilling. “If the appraisal drilling meets our expectations, the field will contribute substantially to the future security of supplies. Furthermore, it opens perspectives for future exploitation of this type of technically challenging fields on the Danish shelf”, said Søren Gath Hansen, Executive Vice President of DONG Energy and responsible for the company's oil and gas activities. The information provided in this announcement will not change the previous financial guidance for the financial year 2009 or the expected investment level. For additional information, please contact Media Relations Ulrik Frøhlke +45 9955 9560 Investor Relations Morten Hultberg Buchgreitz +45 9955 9750 DONG Energy is one of the leading energy groups in Northern Europe. We are headquartered in Denmark. Our business is based on procuring, producing, distributing and trading in energy and related products in Northern Europe. We have approximately 6,000 employees and generated more than DKK 60 billion (EUR 8.2 billion) in revenue in 2008. For further information, see www.dongenergy.com.
DONG Energy to carry out appraisal drilling in the Svane field