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Upstream licensing round quarterly: uncertain times cause slowdown
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Report summary
Record low number of awards in Q3 2020. Delays continue amid low oil prices and a global pandemic. New licensing round launches are thin on the ground. Australia's offshore round contains high-impact gas prone acreage which could provide feedstock to LNG plants and feed South East Australia's gas hungry domestic market. Upcoming round launches include Suriname shallow water acreage which will be competitive in light of recent giant deepwater discoveries.
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