UK 29th offshore licensing round launch Report

Insight 04 August 2016

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Report summary

The Oil and Gas Authority has offered 1,261 blocks as part of the frontier 29th Offshore Licensing Round. The acreage on offer is in frontier and under-explored areas of the UK sector, including the Rockall Trough, Mid North Sea High and the East of Shetland Platform. A new 'Innovate' licence type has also been announced which should provide flexibility to the smaller cash-strapped) companies. The data released from the UK government-funded seismic programme in 2015 should encourage further evaluation of these frontier areas. Companies can bid on the acreage until 26 October 2016. We assume the awards will be made in the second quarter of 2017.

Innovation in this new-format frontier licensing round
Acreage on offer
Terms and conditions
- Timeline
- Data
  - Government-funded seismic programme
- Evaluation process
Prospectivity analysis
- Rockall Trough
- Mid North Sea High
- East of Shetland Platform
Economic analysis
- Fiscal regime
- Model field sensitivity analysis
  - Mid North Sea High (MNSH) Carboniferous and Tertiary
  - East of Shetland Platform Mesozoic
  - The 29th Offshore Licensing Round, what's new?
    - The OGA
    - Innovate licence
  - Round expectations
    - Will exploration pick up with these new measures?
      - Exploration and the OGA
      - Corporate
      - Conclusions