U.K. FRONTIER LICENSES TO CARRY SEISMIC OPTION

Britain's Department of Energy has revealed terms for a frontier exploration licensing round that include a seismic option for the first time. The round will cover 117 western Atlantic blocks in 11 licenses. It will be the first time frontier acreage has been allocated in a special round. Terms include longer periods before first relinquishment, which is determined by drilling activity. The frontier round will run parallel with the 12th licensing round covering 120 blocks in mature areas

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