The UK Oil & Gas Authority (OGA) has reported offering for award 12 licenses to 10 companies in the 2016 Supplementary Offshore Licensing Round, which closed for applications in March.
There were 14 blocks originally on offer in this latest round, which was in response to industry nominations of areas outside of those covered by last year’s Frontier 29th Licensing Round (OGJ Online, Nov. 2, 2016; July 28, 2016).
Locations varied across the UK Continental Shelf (UKCS) from the southern North Sea to East of Shetland. The round offered blocks under flexible terms, enabling applicants to define a license duration and phasing that will allow them to execute their optimal work program.
In total, 15 applications covering 11 blocks were received. OGA is now ready to make offers of award in respect of 12 licenses covering the 11 blocks.
Five of the awards are for work programs that will proceed straight to second term, or potential developments or redevelopments of fields where production had ceased and the acreage had been relinquished. The remainder of the licenses will enter the initial term, or exploration stage.
Andy Samuel, OGA Chief Executive, said: “The strong interest in this round bodes well for the forthcoming 30th round, demonstrating the renewed attractiveness of the UKCS and the opportunity for operators to rebuild their portfolios with a mixture of exploration, development and redevelopment activity.”
