In the 7th Licensing Round, the 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 today 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.
The DEA will be processing the applications in the months ahead, and licences are expected to be issued at the beginning of 2015. Under the provisions of the Danish Subsoil Act, the Minister for Climate, Energy and Building is required, before awarding licences, to submit a statement to the Climate, Energy and Building Committee of the Danish Parliament describing the licences intended to be awarded.
To ensure optimum utilization of the Danish oil and gas fields going forward, the DEA intends to hold licensing rounds at regular intervals in the period ahead. The intention is to launch new licensing rounds approximately one year after completion of the previous round. Thus, the aim is to initiate the 8th Licensing Round in mid-2016.
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