UK’s Oil & Gas Authority (OGA) Offers Extra Blocks

UK’s Oil & Gas Authority (OGA) Offers Extra Blocks

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.

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 has both frontier and mature basins and this Supplementary Round is an important part of our approach to facilitate exploration across the whole of the UKCS.

“We are encouraged by the nominations from industry 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 on 7 March 2017 to apply for the blocks on offer in this Supplementary Round.

Source/ More : Oil & Gas Authority

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