UK's OGA Offers Extra Blocks
UK upstream regulator OGA has invited companies to apply for new offshore licences in some blocks in the Offshore 2016 Supplementary Round.
Fourteen blocks are on offer ranging from the southern North Sea to the east of Shetland. Companies have until 4pm local time 7 March 7, 2017 to apply for the blocks. They fall outside of the 29th licensing round that closed last month.
OGA chief Andy Samuel said: “The UK continental shelf 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." The regulator is keen to ensure that the UK does not lose out, given the reduced spending by oil companies worldwide on exploration since the oil price decline of 2014-15.
Offshore 2016 Supplementary Round: the 14 licences on offer (Map source: UK Oil and Gas Authority)
Mark Smedley