7th Licensing Round in the Danish part of the North Sea
Oil and gas companies are invited to the 7th Licensing Round in the Danish part of the North Sea.
Today, the Danish Government opened the 7th Licensing Round for interested oil and gas companies by invitation to submit applications to the Danish Energy Agency for new North Sea oil and gas licences. A licence will be awarded with an exploration term of six years with the right to a 30-year extension for production fields.
In general, the licence terms for the 7th Licensing Round are similar to the licence terms for the 6th Licensing Round, including the participation by the North Sea Fund (Nordsøfonden) in all licences with a paying interest of 20 %.
The application deadline for the 7th Licensing Round is on 20 October 2014 at noon. Additional information regarding selection criteria, operatorship, licensing procedure and fees can be found at the Danish Energy Agency's website.
In case of any questions, please do not hesitate to contact Niklas Korsgaard Christensen, Attorney-at-Law, Partner.