DONG Energy has decided to keep Exploration & Production business (E&P) as part of the planned IPO. Going forward, the cash flows from E&P will be part of funding DONG Energy’s investments in renewable energy.
The E&P business consists of a portfolio of oil and gas assets in Denmark, Norway and the UK with attractive lifting costs. In line with the rest of the industry, E&P needs to adapt to the significant decline in oil and gas prices. Actions are being undertaken to de-risk the E&P portfolio and focus on cash generation within the new market reality. With this revision of DONG Energy’s portfolio strategy, investments to support future growth will be focused on renewable energy.
