The Oil and Gas Authority (OGA) in the UK will grant 25 licenses for 111 blocks to 17 companies in the 29th Round of Offshore Licensing. The goal is to enable further exploration and production in frontier areas of the UK Continental Shelf (UKCS).
The 29th Round of Licensing was the first in two decades to focus exclusively on border areas under-exploited the Rockall Basin, Mid-North Sea High and part of the East Shetland Platform.
All areas generated interest, especially: three firm commitments in the medium term, work programs involving the application of new technologies and three new entrants to the UKCS. Two areas, Rockall and Mid-North Sea High, were the focus of seismic acquisition program funded by the UK government in 2015, acquired a new set of extensive geophysical data. OGA provided an openly available from subsurface package that allows companies to identify and target a range of opportunities. This was cited by enterprises as critical to stimulate their applications.
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