Two oil firms pull out of North Sea

October 25th, 2013

This article is more than 10 years old.

Anger over the government’s decision to change taxation rules has led Bayerngas, a German oil drilling company, to abandon a 337 million kroner investment in the North Sea.

EWE, another German company, has also announced it was giving up its licence to explore for oil together with Bayerngas and Wintershall, a third German firm, in an area expected to contain 100 million barrels of oil.

EWE said its decision was part of a general plan to reduce its oil drilling activities.

The tax minister, Holger Nielsen, said he fully expected two other oil firms to take over the vacancies. 

Erhverv & Økonomi

SEE RELATED: Bayerngas threatens to end North Sea oil investments

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