Related Articles
Forward article link
Share PDF with colleagues

High interest in offshore but low commitments in UK round

134 licences were awarded, and a further 94 are subject to environmental assessment

Awards made in November in the UK’s 28th licensing round point to a high level of interest in the offshore, particularly from smaller explorers - but work commitments add up to only six firm wells. The majority of operators have committed only to reprocessing existing seismic data, although all licences provide for a drill-or-drop well option.  The Department of Energy and Climate Change (DECC) awarded an initial 134 licences covering 252 blocks, and said another 94 licence applications are still subject to environmental assessment. The round could therefore prove to be larger than the 27th round, under which 219 licences were awarded in 2012 and 2013. Promote licences, under which small co

Also in this section
Mexico stuck in neutral
20 February 2018
The resources are there and the reforms have opened the door to investors, but shale gas can't yet compete
Argentina's shale boom
20 February 2018
The country's play is set to witness a quick rise in gas output as drillers look to lock in higher subsidised prices
Latest licensing rounds
19 February 2018
The industry's most comprehensive list of current and recent rounds for onshore and offshore licenses