The Oil and Gas Authority today launched an extra offshore North Sea bidding round, over and above the 29th licensing round.
Dubbed the Offshore 2016 Supplementary Round, the additional bid allows companies to apply for new licenses to drill for offshore oil and gas in a number of blocks outside the 29th round area offer.
The acreage up for offer varies across the UK Continental Shelf (UKCS), from the Southern North Sea to East of Shetland. The round offers the ‘Innovate Licence’ concept, which was launched for the first time in the 29th Round.
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.