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Drilling to Reduce Fallow Acreage
| Date: | 26 Jul 2000 | | Details: | A DTI initiative has brought forward firm work plans for almost 100 formerly dormant licence blocks in UK waters. In addition, 18 fallow discoveries are to be developed, and a further 15 offered for sale.
Energy Minister Helen Liddell said: "Industry has responded in a
positive way to our strong push for action on fallow blocks and
discoveries. I am pleased that a significant number will either be
drilled or given up this year. In the near future I look forward to
seeing all fallow blocks being drilled, or else relinquished so that
others may examine their potential with new ideas."
In February, Mrs Liddell announced that the Department
would review those blocks awarded in the First to Tenth Licensing
Rounds on which no drilling had taken place for at least six years
("fallow blocks"), and those discoveries that had remained
undeveloped for a similar period ("fallow discoveries").
The Fallow Initiative involved discussions between the Department and the operators of each of the fallow blocks and discoveries. Where companies had no immediate plans to work the acreage, they were pressed to bring forward drilling plans or to relinquish their licences to give others a chance to do so. Of the 199 blocks that were identified as fallow at the beginning of the Initiative, three have now been drilled, 19 now have firm drilling plans and a further 77 will see new geophysical work that will either lead to an action plan or to relinquishment within 12 months. 38 have been relinquished or will be relinquished in the next 12 months. Many of the 125 fallow discoveries would be uneconomic to develop at present, but 18 are now to be brought to development, and another 15 have been or will shortly be advertised for sale. | | Contact: | Trisha O'Reilly, PILOT Communications
Tel: 020 7802 2422
Email: toreilly@ukooa.co.uk |
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For all press enquiries please contact:
Trisha O'Reilly at UKOOA Tel: 0207 802 2422 Email: toreilly@ukooa.co.uk
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