(Courtesy Oil & Gas Authority)
LONDON – Britain’s Oil & Gas Authority (OGA) is inviting bids for new licenses to drill for oil and gas on 14 blocks offered under the Offshore 2016 Supplementary Round.
All the blocks are outside the UK’s 29th Oil and Gas Licensing Round offer area, which closed last month.
Locations stretch from the southern North Sea to East of Shetland. The terms include the “Innovate Licence” concept, introduced with last month’s 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.”
Bidders have until 16:00 on March 7 to submit applications.