North Sea attracts global interest in successful licensing round

June 16, 2004
The UK's successful 22nd offshore and 12th onshore licensing round, which opened March 4 and closed June 4, generated continuing international interest as applications were received for 4 innovative "Frontier" licenses, 42 "Promote" licenses, and 30 traditional licenses (OGJ Online, May 10, 2004).

By OGJ editors

HOUSTON, June 16 -- The UK's successful 22nd offshore and 12th onshore licensing round, which opened March 4 and closed June 4, generated continuing international interest as applications were received for 4 innovative "Frontier" licenses, 42 "Promote" licenses, and 30 traditional licenses (OGJ Online, May 10, 2004).

Of the 68 companies that applied for 164 seaward blocks, 20 were newcomers to the North Sea area, indicating continuing international interest in exploration there. Onshore licenses drew 30 applications, nearly four times as many as a year ago.

The new frontier licenses were designed to spark interest in newly offered blocks to the north and west of the Shetlands Islands comprising areas 1 and 4.

The UK Department of Trade and Industry will now study the applications and interview applicants to ensure that licenses are awarded to those companies with the best ideas and ability to take prospects forward to development. Offers of license awards are planned for August-September.