Small producers cite struggles in UK N. Sea

12/11/2006
Small oil and gas companies are struggling to acquire and develop acreage in UK licensing rounds because of intense competition and high taxes, company executives said at a conference in London.Speaking at the World Junior Oil and Gas Congress in London, Russell Langusch, managing director of Elixir Petroleum, said 141 companies have applied for licenses under the 24th licensing round for the UK North Sea. The UK government hasn’t announced results (OGJ Online, Nov. 10, 2006).Langusch said the introduction of promote licenses by the UK Department for Trade and Industry (DTI) to encourage exploration and production by small companies in the UK North Sea has spurred a record number of...
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