GlobalData’s latest report, Q1 2017 Global Bid Round Outlook – Egyptian, Omani and Congolese Rounds to Close after Deadline Extensions, explores the petroleum licensing rounds in the world that are due to close in the first quarter of 2017.
A total of nine rounds are due to close the quarter, of which three are in Australia and one each in Congo Republic, Egypt, Indonesia, Oman, the UK, and the US. The bid rounds of Egypt, Congo Republic, and Oman have witnessed a postponement of bid due dates from the previous quarters.
The ‘Lease Sale 247’ round in the US is due to close on 21 March 2017. It offers more than 9,000 blocks, the highest number of blocks among all the bid rounds due to close in the first quarter of 2017. It also offers the highest blocks acreage of more than 150,000 square kilometers (sq km).
The ‘2016 Offshore Supplementary Round’ in the UK offers the second highest number of blocks in this quarter. It is additional to the 29th round which closed in 2016. Oman’s ‘2016 Round’ offers the second highest acreage among all bid rounds due to close this quarter, of more than 100,000 sq km.
The report features Egypt’s GANOPE bid round, which is due to close in February. It is GANOPE’s first bid round since 2014. Indonesia’s 2016 Unconventional Regular Tender Round offers the Batu Ampar block, which is a shale hydrocarbon block. Fiscal terms for the block have been made more attractive in an attempt to attract investment.
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GlobalData’s upstream research shows that five bid rounds are due to close in the second quarter of 2017, one each in Equatorial Guinea, Israel, Brazil, Mexico, and the US.
About this report
The latest analytical report from GlobalData Oil & Gas, Q1 2017 Global Bid Round Outlook – Egyptian, Omani and Congolese Rounds to Close after Deadline Extensions, gives details of bid rounds due to close in Q1 2017 globally. The report provides details of blocks offered in these bid rounds. It also provides recent exploration history of countries holding the bid rounds. Major developments related to bid rounds in Q4 2016 are also given. An overview of bid rounds closing in Q2 2017 is also provided.