We further developed our activities in the first half of 2017 using the three strategic pillars: ‘Our Dutch Gas’, ‘Return to Nature’ and ‘New Energy’.
Gas production continues to decline both onshore and offshore. Due to higher prices and lower costs, both sales and profit rose slightly compared with the first half of 2016. The investment level fell to a very low level (EUR 60 million). In the first half of 2016, it was still EUR 170 million. This situation is worrying. We remain convinced that profitable developments in the North Sea are possible despite the continuing low price level. Drilling the so-called N5-01 well emphasises that. This collaboration by HANSA, ONE and EBN, 20 kilometres north of Schiermonnikoog, resulted in an exploration success.
In the first half of the year, we continued our pioneering role to achieve the National Platform Re-use and Decommissioning. The platform will be presented in mid-October, after which it will be operational from 1 January. With the platform, we think it will be possible to reuse and/or dismantle the unused infrastructure in a safe, efficient and effective way.
In mid-June, we signed the so-called Ultradeep Geothermal Green Deal and shortly after that the Green Deal Geothermal Brabant. This was the next major step towards the development of ultra-deep geothermal heat in the Netherlands, which can make a significant contribution to energy transition in the Netherlands. The sustainable use of the substrate for the coming years is an important strategic component for EBN.