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New UK Licensing Round Not Likely To Increase Drilling Activity

The UK launched its 33rd offshore licensing round last week and Wood Mackenzie put in its two cents regarding the round.

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Wood Mackenzie: UK licensing round unlikely to reverse declining offshore drilling trend

Wood Mackenzie thinks exploration still has a role to play in the UKCS, but drilling activity is already at historic lows and the addition of new acreage – which will have been offered up in previous rounds – is unlikely to reverse that trend significantly. ....

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