The Oil and Gas Authority (OGA) has launched the 31st Offshore Licensing Round, providing blocks in frontier areas of the UK Continental Shelf (UKCS), supported by government-funded information to stimulate curiosity in these under-explored basins and help corporations of their actions.

A complete of 1,766 blocks (370,000 km2) of open acreage is now accessible throughout the West of Scotland, the East Shetland Platform, the Mid North Sea High, South West Britain and components of the English Channel, coated by over 80,000 km of high-quality, publicly-available seismic information generated by the 2015 and 2016 Government seismic packages. The new seismic information, along with supporting datasets and reviews, have been launched prematurely of the spherical.

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This suite of exploration information packs and reviews contains, regional geological maps for the Northern North Sea, East Shetland Platform and SW Approaches; closing and interim merchandise from the Frontier Basins Research program; joined digital effectively logs; and a report on the hydrocarbon potential of the Liassic. Data and reviews will be downloaded from the OGA Data Centre.

As a results of excessive ranges of trade curiosity following the 30th Round, the OGA can be providing corporations the chance to suggest further blocks in additional mature areas, for attainable inclusion the place candidates intend to decide to a considerable agency work program. Submissions must be made to the OGA in writing earlier than July 18, 2019, with the OGA reserving the proper to as an alternative provide nominated blocks in a subsequent license providing.

Dr. Andy Samuel, CEO of the OGA, stated the licensing technique is a crucial step in unlocking new alternatives and maximizing worth from our sources: “Following scorching on the heels of the sturdy trade response to the 30th Round, the OGA is opening up giant areas of acreage to trade that provide the chance for high-impact exploration development. The array of measures put in place by the OGA over the past two years, coupled with the UK’s extremely enticing fiscal regime and openly-accessible information have laid the muse for the continuing revival in exploration exercise throughout all areas of the UK Continental Shelf.”

Energy and Clean Growth Minister Claire Perry, stated: “Through our bold trendy Industrial Strategy, we acknowledge the significance of knowledge and perception to assist drive enterprise efficiency. That’s why we supplied £40 million within the 2015 and 2016 Budgets for seismic surveys in under-explored frontier areas of the UK Continental Shelf, leading to new information and new alternatives on this newest spherical of licensing.”

Companies have till 14:00 on Nov. 7, 2018 to use for blocks on provide within the 31st Round. Decisions are anticipated to be made as early as attainable within the first half of 2019. The launch of this spherical follows the current highly-successful 30th Offshore Licensing Round which awarded 123 licenses for 229 blocks or half blocks to 61 corporations in mature areas of the UKCS throughout May 2018.

The subsequent spherical, the 32nd Offshore Licensing Round is deliberate to open subsequent summer season 2019, and can concentrate on mature areas of the UKCS.

Source: www.worldoil.com

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