Almost 57% of licence awards from the 32nd round three years ago have now been handed back.
32nd licensing round
UK offshore exploration drilling is on course to slump this year to its lowest level since companies starting scouring the North Sea for oil in the mid-1960s.
Dana Petroleum is understood to be targeting two mature UK North Sea prospects after securing several blocks in the most recent licensing round.
Deltic Energy said the company is largely “insulated” from the impact of Covid-19 thanks to the financial benefits of Shell farm-outs last year.
The Oil and Gas Authority (OGA) has offered for award 113 licence areas over 259 blocks or part-blocks to 65 companies in the 32nd Offshore Licensing Round.
Australia’s Talon Petroleum has announced plans to boost its acreage in the UK North Sea.
The Oil and Gas Authority (OGA) has launched the UK’s 32nd offshore licensing round as the industry seeks to restore exploration activity.