The UK’s Oil and Gas Authority (OGA) has launched the 30th Offshore Licensing Round with 813 blocks or part blocks on offer in mature areas of the UK Continental Shelf (UKCS) totalling an area of more than 28 million acres.
The OGA said blocks are on offer in the Southern, Central and Northern North Sea, the West of Shetland and East Irish Sea “featuring a large inventory of prospects and undeveloped discoveries.”
OGA Chief Executive Andy Samuel said: “The 30th Licensing Round offers companies a significant opportunity to rebuild their portfolios; taking advantage of the flexible Innovate Licence, technology and improvements to the UKCS fiscal regime.
“These factors combined mean now is a very good time to invest on the UKCS.
“We are encouraging companies to take a fresh look at large areas of acreage, some of which has not been available since 1965, and make best use of the recently released information and new data packs to inform their applications.”