The Danish Energy Agency has launched the 8th oil and gas licensing round in the North Sea, in which interested companies can submit their applications until 1 February 2019. The areas offered for licensing are mostly located in the Central Graben area of the North Sea, where the majority of the Danish currently producing fields are situated. According to the government, the Danish portion of the North Sea could have a potential of 3 Gboe. Winning companies will hold an 80% interest in the licenses, while the Danish North Sea Fund will hold a 20% stake on behalf of the Danish state.
The last licensing rounds took place in 2006 and 2016. 16 new oil and gas exploration licences in the North Sea were awarded to 12 companies during the 7th round. The new licences were granted for an exploration period of six years with the right to 30-year extension for fields put into production. So far, there has not been produced oil from discoveries made in these rounds.
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