UK offers more offshore blocks in supplementary bidding round
UK’s Oil and Gas Authority (OGA) informed on Monday that companies can now apply for new licenses to drill for offshore oil and gas in a number of blocks in the Offshore 2016 Supplementary Round.
OGA said on Tuesday that the fourteen blocks on offer in the Supplementary Round are outside of the 29th Oil and Gas Licensing Round offer area, which closed last month.
Locations vary across the UK Continental Shelf (UKCS), from the Southern North Sea to East of Shetland. The round offers the ‘Innovate Licence’ concept which was launched for the first time in the 29th Round.
Andy Samuel, Chief Executive of the OGA, said: “The UKCS is unique in its position as both a frontier and mature basin and the Supplementary Round is an important part of our approach to facilitate exploration across the whole UKCS.
“We are encouraged by the nominations from industry through the MER UK Exploration Board for licensing in these areas. The application of modern seismic techniques, improved collective understanding of the basin’s geology and a fresh perspective are vital to unlocking the remaining reserves in the UKCS’ mature areas.”
Companies have until 16:00 March 7, 2017 to apply for the blocks on offer in this Supplementary Round.