West Of Shetland Incentives Offered As 26th Round Is Launched

The British government launched its 26th seaward licensing round on January 27, offering a record 2,818 licences in all the country's offshore areas. On the same day, Britain's finance minister Alistair Darling announced new incentives for companies exploring in the frontier West of Shetland area. The incentives are intended to stimulate investment in the remote and challenging region, which is thought to contain up to 20% of the UK's undiscovered reserves.

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