Offshore acreage dominates global licensing rounds

More than 35% of the acreage available in licensing rounds that are either open or scheduled to close in H2 2021 are in shallow water, while ultra-deepwater and deepwater acreage account for 24% and 19%, respectively, according to GlobalData. Sixteen licensing rounds that are currently open are expected to close by the end of the year. Asia is hosting the largest number of licensing rounds in H2 2021 with six, followed by South America with three. Among countries, Australia, Brazil, Canada, India, and Indonesia are expected to host a major portion of the licensing round activity that is scheduled to close in H2 2021.