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Denmark's Ministry of Environment and Energy is to award 17 new licenses for offshore exploration and production, with foreign firms accounting for many license interests.
The awards follow Denmark's fifth offshore licensing round, which opened in summer 1997 and was intended to continue the country's recent policy of attracting investment from international industry (OGJ, Nov. 18, 1996, p. 29).
The licenses cover a total area of 6,341 sq km in the western part of Denmark's offshore sector. The ministry said operators of fifth-round licenses have committed to spend a total 1.7 billion Danish kroner ($250 million) on exploration over 6 years.
The operators have agreed to drill 13 exploration wells in total, with a further 8 promised if …