The long awaited outcome of the 7th licensing round concerning exploitation of hydrocarbons has been published. The Minister will issue 16 new oil and gas licenses as soon as the Minister's statement on the outcome of the 7th licensing round has been presented to the Committee on energy, utilities and climate.
The 7th licensing round opened up for applications on 24 April 2014, and at the expiry of the time limit on 20 October 2014, 25 applications had been submitted by 15 companies. Subsequently, 15 companies became 12, each owing one or more of the 16 licenses.
The allocation shows that licences will be issued to several new foreign operators, which will be active in the Danish part of the North Sea in the future. In general, the licenses issued will cover an exploration period of six years. Fields that are brought into production are entitled to an extension of the license for 30 years.
The Ministry will very soon start collecting the experiences from the 7th licensing round for the purpose of preparing and optimizing the 8th licensing round.