OGA Attracts 29 Applications in Latest Licensing Round
The Oil and Gas Authority (OGA) has attracted 29 applications covering 113 blocks in the latest offshore licensing round, which targets under-explored areas of the UK Continental Shelf (UKCS).
The 29th Frontier Licensing Round is the first licensing round in two decades to focus on frontier areas. Applications were received from 24 companies ranging from multinationals to new country entrants. Some of the proposed work programs include firm well commitments.
Frontier areas on offer included the East Shetland Platform and the Rockall Trough and Mid-North Sea High areas, which were the focus of a 2015 UK Government funded seismic acquisition program. The OGA subsequently provided an openly available, geophysical dataset allowing companies to identify and target a range of opportunities.
“Despite the difficult climate, industry has responded strongly to our offer, using analysis and insights to identify new prospects and submit high quality applications on blocks that did not attract interest in recent licensing rounds,” said Andy Samuel, chief executive of the OGA.
“This confirms the high remaining potential in the UKCS’ frontier areas,” he added.
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