Bidding rounds in the second quarter of this financial year are expected to take place, with the 2015 Offshore Round 2 and 2015 Offshore Round 1 Re-release in Australia, and the 11th Licensing Round in Gabon’s deepwater, according to a GlobalData report.
Entitled ‘Q2 2016 Global Bid Round Outlook – Gabon to Hold Postponed Deepwater Round‘, the report mentions that Australia’s 2015 Offshore Round 2 covers the biggest area among all the bid rounds at 45,710km², ahead of Gabon’s 11th Licensing Round (8,465km²) and the 2015 Offshore Round 1 Re-release (5,610km²).
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Australia is offering two blocks in its 2015 Offshore Round 2, which are near the Icthys LNG project. Of the two blocks, W15-4 latter already has a gas and oil discovery.
The five blocks being offered by Gabon are in close to the Leopard-1 and Diaman-1B discoveries, which were discovered in 2013 and 2014 respectively.
Gabon’s fiscal terms were expected to be updated in April, prompting authorities to extend the date for bid submissions up to 29 April.
The extension in the deadline has provided companies with an opportunity to study the change in fiscal regulations and invest accordingly.
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