Danish oil and shipping company A.P. Moller-Maersk A/S says there is no reason to re-negotiate the current profit-sharing and taxation agreement with the Danish government over the exploration and extraction of oil and gas in the Danish part of the North Sea, reports Danish daily Morgenavisen Jyllands-Posten Monday, FOXBusiness reports.
The recently elected Danish centre-left government has established an energy committee, which is looking into the legal options for a re-negotiation of the 2003-signed oil-extraction framework agreement with the aim of increasing the state's revenue.
Maersk represents the Danish Underground Consortium -- which also counts oil majors Royal Dutch Shell PLC (RDSA.LN)and Chevron Corp. (CVX) -- in the dialog with Denmark over the resources agreement.
"We see no foundation for a re-negotiation of the North Sea agreement," Jyllands-Posten quotes Maersk head of public affairs Anders Wuertzen as saying.
"The deal lives up to the priorities the parties set at the time, and the negotiation that led to it were both long and thorough," Wuertzen said.
According to projections, the agreement, which runs until 2042, is supposed to bring the Danish state some 61% of revenue generated by the North Sea oil extraction.
Internal estimates from Chevron, Shell and Maersk have shown that the three companies have booked revenues amounting to DKK88 billion out of a total of DKK150 billion generated in the period 2004 to 2010, Jyllands-Posten writes.
The recently elected Danish centre-left government has established an energy committee, which is looking into the legal options for a re-negotiation of the 2003-signed oil-extraction framework agreement with the aim of increasing the state's revenue.
Maersk represents the Danish Underground Consortium -- which also counts oil majors Royal Dutch Shell PLC (RDSA.LN)and Chevron Corp. (CVX) -- in the dialog with Denmark over the resources agreement.
"We see no foundation for a re-negotiation of the North Sea agreement," Jyllands-Posten quotes Maersk head of public affairs Anders Wuertzen as saying.
"The deal lives up to the priorities the parties set at the time, and the negotiation that led to it were both long and thorough," Wuertzen said.
According to projections, the agreement, which runs until 2042, is supposed to bring the Danish state some 61% of revenue generated by the North Sea oil extraction.
Internal estimates from Chevron, Shell and Maersk have shown that the three companies have booked revenues amounting to DKK88 billion out of a total of DKK150 billion generated in the period 2004 to 2010, Jyllands-Posten writes.
