UK offers new 'Frontier' license area west of Shetlands

A new "Frontier" license that allows offshore operators to apply for relatively large acreage on the UK's Atlantic margin or continental shelf west of the Shetland and Orkney islands at significantly reduced costs will be offered in the next UK offshore licensing round.The new license, recently announced by UK Energy Minister Stephen Timms, also gives operators more time to carry out the necessary exploration and development, extending that period for 2 years "over and above" the time allowed under a traditional license."We look forward to seeing which blocks will be designated in the forthcoming 22nd offshore licensing round and the exact terms of the new licenses," said officials of...

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