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Nordsøfonden makes huge impairments in 2014

The big plunge in the oil price forced the Danish State's oil and gas company Nordsøfonden to make impairments on facility activities of over USD 370 million in 2014, where the company suffered a deficit of USD 92 million.

The drastic decline in the oil price means that the Danish State's oil and gas company Nordsøfonden finished 2014 with a significant deficit.

"Late summer 2014 brought a drastic fall in oil prices which has continued so far. This has significance for Nordsøfonden's earnings and has led to an impairment of facility activities for over USD 370 million," says Peter Helmer Steen, CEO of unit Nordsøenheden, which is in charge of the daily operation of Nordsøfonden, regarding the 2014 result.

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