DONG Energy has now concluded the strategic review with the following key conclusions:
DONG Energy confirms its intention to build a world-class clean energy company with a portfolio based on leading competences in offshore wind, bioenergy and green distribution and customer solutions.
DONG Energy has decided to keep 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 high-quality 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. This will further reinforce DONG Energy's position as a global leader in renewables.