The Most Anticipated Licensing Round Of 2021 ...Middle East

The energy markets have seen several major upsets during the 21st century yet one can state fairly confidently that the market slump of 2020-2021 has triggered the most damage of them all. This is also true for international licensing where dozens of rounds were delayed, either to 2021 or indeterminately, for fear of not generating enough interest amidst drastic CAPEX cuts and massive divestment schemes. The end result is that 2020 was the weakest year in terms of total acreage awarded to oil and gas companies since 2002 (0.35 million km2), roughly…

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