Horten has assisted the Danish North Sea Fund with the sale of the fund’s share of crude oil production from Dansk Undergrunds Consortium (DUC). The North Sea Fund will join DUC on 9 July 2012 and will from that date control more than 20 % of DUC’s production of oil and natural gas. The agreement is expected to generate a monthly sales revenue to the fund of approx. DKK 675 million.
In addition, Horten has assisted the North Sea Fund with the sale of a large share of the fund’s natural gas production to HMN Gashandel A/S. The agreement runs from 9 July 2012 to 1 October 2013.