Following the OGA’s announcement today that it has offered for award 123 licences over 229 blocks or part-blocks on the UKCS to 61 companies in the 30th Offshore Licensing Round,
Oil & Gas UK’s chief executive, Deirdre Michie, said:
“It’s great see so many companies submitting applications for the 30th Licensing Round as this demonstrates another vote of confidence in exploring for oil and gas on the UK Continental Shelf. We now need these opportunities to be pursued with a sense of urgency to help unlock activity for our hard pressed supply chain and ensure we start to mitigate the potential drop off in production post 2020.
I’m optimistic that this can happen given that much of the acreage lies within reach of existing infrastructure, our development costs have reduced, our commercial behaviours are improving and our basin continues to be one of the most fiscally competitive in the world.”
Further information about the 30th Offshore Licensing Round awards is available here
ENDS
Notes to Editors
Issued by the Communications Team, Oil & Gas UK. Contact Lucy Gordon on 01224 577331 / email- lgordon@oilandgasuk.co.uk.
Oil & Gas UK is the leading representative organisation for the UK offshore oil and gas industry. Its membership comprises oil and gas producers and contractor companies.