New oil and gas licensing round opens

A new round of licenses to drill for offshore oil and gas have opened. The Oil and Gas Authority’s (OGA) Offshore 2016 Supplementary Round offers 14 blocks across the UK […]

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By Jonny Bairstow

A new round of licenses to drill for offshore oil and gas have opened.

The Oil and Gas Authority’s (OGA) Offshore 2016 Supplementary Round offers 14 blocks across the UK Continental Shelf, the Southern North Sea and around the East of Shetland.

It comes after the 29th Oil and Gas Licensing Round closed last month and covers a different area.

The new round offers the ‘Innovate Licence’ concept which was launched for the first time in the previous round and offers more flexibility.

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.”

This round of licencing ends at 16:00 on the 7th of March 2017.