Danish government and Maersk reportedly agree to North Sea oil deal

Agreement only needs approval from Parliament

After months of wrangling over the future of oil exploration in Denmark’s area of the North Sea, it appears that a deal has been reached between the Danish government and AP Moller-Maersk.  According to Berlingske Business, an agreement has been negotiated and now needs parliamentary approval.

According to the terms reported by Berlingske Business, Maersk has committed to a full reconstruction of the Thyra field at a cost of about 30 million kroner.

Deal or no deal
In return, Maersk will be allowed to boost its tax depreciation from its current level of 15 percent to 20 percent. In addition, the hydrocarbon tax will be raised from 5 to 6.5 percent for the next six years.

READ MORE: Danish oil production decreases yet again

Neither the government nor Maersk would comment on the deal nor confirm that it had been finalised.