OGA Launches Extra North Sea Offshore Bidding Round
The UK’s Oil and Gas Authority (OGA) today announced an extra offshore North Sea bidding round that will take place over and above the 29th licensing round.
The additional bidding round named the ‘Offshore 2016 Supplementary Round’ allows companies to apply for new licenses to drill for offshore oil and gas in a number of blocks outside the 29th licensing round in October of this year.
The acreage up for auction varies across the UK Continental Shelf (UKCS) with areas from the Southern North Sea to East of Shetland up for grabs. This round also offers the ‘Innovate Licence’ concept, which was launched for the first time in the 29th Round earlier this year.
There are 14 blocks on offer.
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 March 7, 2017 to apply for the blocks on offer in this Supplementary Round.
