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Energy Minister Wishes the Oil Industry a Busy New Year!
| Date: | 16 Jan 2002 | | Details: | Energy Minister Brian Wilson today announced the 20th Licensing Round and also approved three new oilfield developments. The 20th Round opens up almost 300 blocks of the southern, central and northern North Sea for competitive licence bids.
Speaking in Aberdeen at PILOT, the joint Industry and Government forum for the offshore sector, Mr Wilson said:
"We want to get these licences into the hands of companies who are hungry and innovative. It will be a busy spring for explorers and their activity resulting from this licensing round will help meet PILOT's production targets for 2010.
"Both PILOT and the industry are convinced of the need to make sure that licences are held by companies best able to work and invest in them. 20th Round licences will have very tight time limits so if they are not exploited by the licence holder they can be passed to companies who will develop them."
In preparation for the 20th Licensing Round a comprehensive Strategic Environmental Assessment was carried out. The Assessment discovered some large depressions on the sea bed which could be of particular biological interest. Portions of four Blocks will therefore be excluded from licensing until further information is available on these features. They may contain species not found elsewhere in the open North Sea with the potential for new species to be found following more detailed investigation.
Wilson went on to say:
"I am also pleased to approve today the Madoes, Mirren and Maclure fields. Taken together, these three subsea developments bring an investment of over £200 million and secure additional production of 60 million barrels of oil and nearly 100 billion cubic feet of gas. As with all satellite developments they bring the added bonus of a more secure future for their host infrastructure and create further opportunities for other new developments." | | 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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