Nordsøfonden and Nordsøenheden are founded by law in order to attend to the State’s participation in the oil and gas licences in the Danish concession area.
Nordsøfonden takes over from DONG (Danish Oil and Natural Gas) the responsibility as the state participant in licences awarded after 2005. Taking over this role is necessitated by DONG’s partly privatisation as well as the agreements concerning an extension of the sole concession held by A.P. Møller.
Nordsøenheden starts with two Open Door licences.
The 6th Licensing Round results in Nordsøfonden participating in an additional 14 licences.
Nordsøfonden participates in the drilling of its first exploration well (Rau-1), striking oil.
Nordsøenheden is working intensively with a master plan for joining the DUC (Danish Underground Consortium) and scales up its number of employees.
Nordsøenheden is organized as a minor oil company with expertise within exploration, production, sales and commercial negotiation as well as finances.
On 9 July 2012 Nordsøfonden joins the DUC as a partner and thereby takes responsibility for the active state participation in the sole concession being an important element of the 2003-agreement on extending the sole concession held by A.P. Møller. By entering the DUC as a partner Nordsøfonden becomes the third largest producer of oil and gas in Denmark.
On 14 November 2012 the responsibility of Nordsøfonden and Nordsøenheden is transferred from the Minister of Climate, Energy and Building to the Minister for Business and Growth. This transfer is necessary in order to separate the ownership of the two companies, Energinet.dk and Nordsøfonden, as Nordsøfonden now upon its joining the DUC becomes a producer of natural gas.
Nordsøenheden administrating Nordsøfonden is changed from a government entity to an Independent State Company with its own Board of Directors. The transformation is made in order to strengthen the state participation by a professional Board supporting to its best avail the long-term interests of the State in the Danish oil and gas activities.
The 7th Licensing Round results in Nordsøfonden participating in 16 additional licences.
First oil is produced from the Ravn field. The field is operated by Wintershall Noordzee B.V. Nordsøfonden has a 36.36 % share in the project. Ravn is Nordsøfonden’s first producing field outside DUC.