Journal Article

Petroleum licensing in the European Union: the allocation of E&P rights in Denmark

Vincent P Wangelow

in The Journal of World Energy Law & Business

Volume 11, issue 2, pages 145-163
Published in print April 2018 | ISSN: 1754-9957
Published online March 2018 | e-ISSN: 1754-9965 | DOI: https://dx.doi.org/10.1093/jwelb/jwy004
Petroleum licensing in the European Union: the allocation of E&P rights in Denmark

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ABSTRACT

This article examines the particularities of petroleum licensing in the European Union and the changing influence of EU Public Procurement legislation on the use of granting instruments by the Member States. To grasp the complex and interrelated legal environment in the EU regarding upstream petroleum operations, rationale and development of the respective rules must first be traced back on the European level. The EU Utilities Directives and the Hydrocarbon Licensing Directive are the most influential legal instruments in that respect. The Kingdom of Denmark, being the second biggest producer of crude oil in the EU after the UK, has adopted a legal and fiscal framework that incorporates the EU requirements and displays herewith a sound example for the allocation of E&P rights in accordance with the existing legal constraints in the EU. The Danish solution complies with EU rules but also goes beyond them and is at the time viable and competitive thus achieving to attract investors as recently demonstrated in the 7th Danish licensing round of 2014. The latter led to the award of 16 new licences in 2016. Denmark’s approach as to petroleum Exploration and Production (E&P) rights allocation could have exemplary character for countries that face difficulties in attracting applicants or investors due to rather disadvantageous prospects as to their resource reserves.

Journal Article.  9389 words.  Illustrated.

Subjects: Environment and Energy Law

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