Nearly 100 functions masking 239 blocks have been made by 68 firms within the 30th offshore licensing spherical on the UK Continental Shelf, the Oil and Gas Authority (OGA) has revealed.

Applications got here from firms starting from multinationals to new nation entrants. Acreage provided lined the UKCS’s principal basins, together with the Southern, Central and Northern North Sea, the West of Shetland and East Irish Sea, with an combination space totalling 114,426sq km (28,275,280 acres).

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Applicants utilized utilizing a brand new Innovate Licence, developed by the OGA in collaboration with trade. The OGA intends to supply awards to profitable candidates throughout Q2 2018.

Nick Richardson, Head of Exploration and New Ventures on the OGA, stated: “Despite the tough financial surroundings, trade has responded strongly to this spherical, confirming the excessive remaining potential of the UKCS. The concentrate on areas with current infrastructure supplied firms with a wonderful alternative to take a recent have a look at a big stock of alternatives from which to rebuild their portfolios to assist maintain future manufacturing.”

The acreage supply featured a big stock of prospects and undeveloped discoveries. As a part of the spherical, the OGA overtly supplied a number of digital information packages, and co-hosted a expertise occasion with the Oil and Gas Technology Centre (OGTC).

“Efforts by the OGA to offer new information, evaluation and insights has stimulated various top quality functions,” provides Richardson.

31st Round to launch

The 31st Round is scheduled to be launched mid-2018. The OGA says it can present “high-impact exploration alternatives” in under-explored areas of the UKCS.

To assist the following licensing spherical, the OGA will launch the outcomes of the 2016 Government-Funded Seismic Programme subsequent Monday (27 November). Almost 19,000km of newly-acquired, broadband seismic information might be made freely obtainable, along with about 23,000km of reprocessed legacy seismic information and effectively information packages.

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The information covers the East Shetland Platform, North West Scotland, South West Approaches, East Irish Sea, Celtic Sea, Cardigan Bay, Morecambe Bay, Bristol Channel and English Channel. The information might be accompanied by new geotechnical research commissioned by the OGA to research the important thing subsurface uncertainties in these areas and assist additional exercise.

Source: www.oedigital.com

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