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UK OGA awards four licenses for offshore blocks under 31st supplementary bidding round

UK OGA awards four licenses for offshore blocks under 31st supplementary bidding round

 

The UK Oil and Gas Authority (OGA) has awarded four licences for offshore oil and gas blocks to three companies under the 31st Supplementary Offshore Licensing Round.

A total of 11 blocks located in the Greater Buchan Area of the UK Continental Shelf (UKCS) were put on offer by the UK OGA in the supplementary round.

The regulator, however, received four applications covering five blocks.

CNS Area manager Scott Robertson said: “From bringing together interested parties at an early stage to releasing extensive digital data in advance of the licence round, the OGA sought to facilitate a common understanding and industry collaboration.

“The resulting commendable level of engagement between operators and high quality applications enabled us to make awards confident that the right assets are going to be in the right hands to deliver the optimal MER development of the Greater Buchan area.

“We look forward to working with the awardees as they deliver on their work programs and commitments and to exploit the opportunities to re-purpose and sustain existing infrastructure.”

Licences are offered for blocks located in the Greater Buchan Area of the UKCS

One of the winners is Jersey Oil and Gas (JOG), which secured 100% working interests and operatorship of three blocks in the licensing round.

The acreage awarded includes the Greater Buchan Area (GBA) in the North Sea and the J2 oil discovery and is contiguous with the company’s existing interest in Licence P2170 comprising Blocks 20/5b and 21/1d.

Additionally, a consortium made of Australian company Talon Petroleum and Dutch firm ONE-Dyas won a licence for Block 14/30b. This licence includes Thelma Prospect, Louise Prospect, and Buffalo Prospect.

The regulator said in a statement: “The OGA fully supports the transition to a low carbon economy.

“Government forecasts show that oil and gas will remain an important part of our energy mix for the foreseeable future, and maximising economic recovery from the UKCS is therefore vital to meet our energy demands and reduce reliance on imports.”

 

Source: NS Energy

Published: 24-07-2019
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