Thirty "traditional" Offshore Production License applications were received, along with 40 new "Promote" License applications covering 140 blocks in total, an increase of over 100 on the previous round last year, and the largest number of blocks applied for since the early 1970's.

Applications were received from 75 companies, 36 of which are potential newcomers to the North Sea. Additionally, eight applications were received for onshore acreage.

The new Promote License was offered for application for the first time on February 5, 2003. The Promote License offers the licensee the opportunity to assess and promote the prospectivity of the licensed acreage for an initial two-year period without the stringent entry checks required as part of a traditional license.

For the period of this assessment, to a maximum of two years, the license rental fee will be 10% of the rental fee for the traditional license.