Thursday 4 March 2004

UKOOA Welcomes Announcement of 22nd Offshore Oil and Gas Licensing Round

The UK Offshore Operators Association (UKOOA), the representative organisation for oil and gas producers in the UK, welcomes todays announcement of the 22nd Offshore Oil and Gas Licensing Round, and in particular, the opportunities presented by the new Frontier Licence and the release of recycled acreage.

Malcolm Webb, UKOOAs Chief Executive, said: The Government has taken an innovative approach in the 22nd Licensing Round by combining new and old licences types as a means of maximising interest in exploring for oil and gas in the UK Continental Shelf.

In particular, the new Frontier Licence could prove to be instrumental in revitalising exploration activity in the more difficult areas of the Atlantic Margin to the North West of Scotland where acreage is being offered up for the first time in many years.

The Round also sees the release of 20 recycled blocks relinquished by previous licence holders, yielding an opportunity for new entrants.

Notes to Editors

The UK Offshore Operators Association (UKOOA) is the representative organisation for companies licensed by the British Government to explore for and produce hydrocarbons in UK waters. It has 30 members.

For more information, please call 020 7802 2400.