How Governments Manage Their Offshore Petroleum Resources
Chapter 9: Exploration
This chapter examines the way in which Australia, Norway and the UK issue licences to companies to explore for petroleum. It commences by comparing their exploration strategies and then how they market licences through licensing rounds (in Australia called an acreage release). It explores the choices they make about block size and licence conditions. It then compares the requirements for applications and how they are assessed in a competitive process. The chapter looks at the conditions of licences such as their term and work requirements and variations after the issue of a licence. It brings out points of difference in the treatment of mature areas, assessment criteria and the process of award.
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