Oil & Gas - Announcement of the 8th licensing round
Today, the Danish Energy Authority announced the terms for the 8th licensing round in the Danish part of the North Sea. Applicants for new licenses must submit their applications before 1 February 2019.
Generally, the Danish part of the North Sea is perceived as a mature production area with a well-developed infrastructure. According to the Danish Energy Agency there are still significant amounts of oil and gas in the Danish areas.
During the 7th round, 16 new licenses were awarded (2016). Since then a new political agreement on the development of the oil and gas sector in the North Sea has been concluded, including a tax relief window during 2017-2025 and improved conditions for third-party access to the infrastructure in the Danish part of the North Sea.
The terms of the concessions in the 8th round are available at: www.ens.dk/8thRound
Plesner is the market leading law firm in Denmark with exceptional experience in oil and gas. In recent years, Plesner has been involved in all major oil and gas projects in the Danish sector of the North Sea, and has also advised a large number of the applicants for the latest licensing round (the 7th round).
8th Danish licensing round