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November 16, 2018

UK to offer highest number of blocks globally in Q4 2018

GlobalData’s latest report, Q4 2018 Global Bid Round Outlook – UK to offer Highest Number of Blocks shows that globally, 20 bid rounds are due to close in the fourth quarter of 2018 – three each in the US, Canada and the UAE, two each in Egypt and Indonesia, and one each in Australia, Greenland, India, Pakistan, Senegal, UK, and Ukraine.

By GlobalData Energy

GlobalData’s latest report, Q4 2018 Global Bid Round Outlook – UK to offer Highest Number of Blocks shows that globally, 20 bid rounds are due to close in the fourth quarter of 2018 – three each in the US, Canada and the UAE, two each in Egypt and Indonesia, and one each in Australia, Greenland, India, Pakistan, Senegal, UK, and Ukraine.

A total of 3,286 blocks are on offer globally in Q4 2018. Of these, of these, 1,733 are shallow water blocks, 1,414 are onshore blocks, 81 are deepwater blocks, and 58 are ultra-deepwater blocks.

The ‘31st Offshore Licensing Round’ round in the UK offers 1,779 blocks, the highest among all the bid rounds due to close in Q4 2018. The 31st licensing round offers blocks in the UK Continental Shelf. The blocks cover frontier acreage in the West of Shetland, the East Shetland Platform, the Mid North Sea High, South West Britain, and parts of the English Channel.

Blocks on offer by bid round and terrain

Source: Upstream Analytics, GlobalData Oil and Gas                                                                                                            © GlobalData

The US offers second highest number of blocks globally in Q4 2018 through three bid rounds – North Slope Foothills Areawide Sales 2018, Beaufort Sea Areawide Sales 2018W and North Slope Areawide Sales 2018W. These three bid rounds collectively offer 1,389 blocks, of these 1,359 are onshore blocks and 30 are shallow water blocks.

In terms of acreage, the ‘Egyptian Natural Gas Holding Company International Bid Round 2018’ and the ‘Egyptian General Petroleum Corporation International Bid Round 2018’, both in Egypt have the highest acreage on offer of all the bid rounds among countries with 74,975 km2.

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