Lloyds List: Licensing round is North Sea’s ‘most successful’
“ExxonMobil and Shell gained the largest ever licence awarded in the UK North Sea, gaining 20 blocks in a 1.2m acre area of the Mid-North Sea High area 90 miles east of Newcastle.”
Friday Sept 09, 2005
Martyn Wingrove
OIL and gas exploration markets in the North Sea received a further boost when the British government awarded a record 152 licences in the 23rd offshore round.
Up to 99 oil and gas companies were awarded a total of 264 exploration blocks, with 24 new entrants gaining opportunities to invest in the sector.
Energy Minister Malcolm Wicks described the round as the most successful since 1964 and is impressed how companies are driving to explore for more oil and gas resources.