UK NSTA receives 115 bids for latest North Sea licensing round
More than 100 applications were received for the UK’s 33rd offshore oil and gas licensing round, the North Sea Transition Authority (NSTA) announced. The round, which closed in early January, attracted a total of 115 bids across 258 blocks and part-blocks from a total of 76 companies.
The process opened on 7 October and offered acreage across the North Sea. It included four priority areas that have known hydrocarbons and high interest and which the NSTA believes additional production can be brought online in as little as 18 months.
The round is a part of the NSTA’s drive to support UK energy security, which also includes licensing the Rough gas storage facility, and encouraging operators to look at reopening closed wells.
Oil and gas currently contribute around three-quarters of domestic energy needs.
