Next round of UK offshore licensing under way

Offshore staff

LONDON – Britain’s Energy Minister Charles Hendry is offering 2,900 blocks under the UK’s newly launched 27th offshore licensing round.

The 26th round, which opened in 2010, and recently concluded with numerous late awards, resulted in 190 licenses being issued, the highest total since UK offshore licensing began in 1964.

Hendry said: “This is shaping up to be a very prosperous year for the North Sea as we expect a substantial increase in field approvals. With around 20 Bbbl of oil still to be extracted, the UK continental shelf has many years of productivity left.”

Applications for the 27th Round are due in by May 1.

2/1/2012

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