Bids to explore for oil and gas in areas including the North Sea have risen by almost 50% since 2016, according to new figures. The Oil and Gas Authority (OGA) said 36 applications covering 164 blocks in frontier areas of the UK Continental Shelf (UKCS) had been received in the 31st Offshore Licensing Round. The OGA said “strong and diverse” interest had come from “multinationals to micro businesses”. The bids will now be assessed. Some areas, such as the East Shetland Platform, have never been previously licensed. Following technical evaluation of the applications, awards to successful applicants are expected to be made in the second quarter of 2019. However, the OGA said it remained concerned by low levels of drilling activity.
BBC 14th Nov 2018 read more »