Britain awards first fast track oil and gas license

Jan 24, 1997 01:00 AM

Britain awarded on Friday, Jan. 24, the first oil and gas license under a new "fast track" procedure to a consortium led by Amoco, with co-applicants British Gas Exploration and Production and Amerada Hess, the Department of Trade and Industry said in a statement. The award, for block 49/30c close to the Davy gas field in the southern gas basin of the North Sea will allow early exploration of a prospect that extends into the block from acreage currently already held by the group in block 49/30a. It is the first award to be made in the UK outside the structure of a formal licensing round. "It is very important for (Amoco) and its partners that activities in block 49/30c should be timed to tie in with existing production schedules," said Junior Energy Minister Richard Page. Legislation allowing the DTI to offer acreage "out-of-round" when it is contiguous to currently licensed areas was introduced in 1995. Britain's 17th offshore oil and gas licensing round is to close on March 25.

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