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DEA sees record high bids in 7th licensing round

23/10/2014 by

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In the 7th Licensing Round, the Danish Energy Agency (DEA) has received 25 applications from oil companies interested in searching for oil and gas in the North Sea.

This is a record high number compared with previous licensing rounds. Several applicant companies have not previously held licences in Denmark.

When the time limit for submitting applications for new oil and gas exploration and production licences in the 7th Licensing Round expired yesterday at noon, the DEA had received 25 applications. The applicants consist of 15 oil companies, several of which have not previously held licences in Denmark.

“I am very pleased with the number of applications received in the licensing round, which confirms that the oil companies are still confident that interesting discoveries can be made in the Danish area. This is positive because it means we can maintain stable exploration activity along with investments in highly specialized workplaces in Denmark. I look forward to the future licences leading to new commercial discoveries that can secure the greatest possible revenue from the North Sea for Danish society,” says the Minister for Climate, Energy and Building, Rasmus Helveg Petersen.

The 7th Licensing Round was opened on 24 April this year. The areas offered for licensing comprise all unlicensed areas in the Central Graben, where the majority of Danish fields have so far been discovered, as well as areas further to the east, where oil discoveries were made in the 6th Licensing Round.

This article has been extracted from http://www.offshoreenergytoday.com, please click on this link to read the article in full 
http://www.offshoreenergytoday.com/dea-sees-record-high-bids-in-7th-licensing-round/


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