Insight
UK 30th Offshore Licensing Round: an ageing sector turning a corner?
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Report summary
On 23 May 2018 the Oil & Gas Authority (OGA) announced the results of the UK's first mature licensing round. Strong interest levels in this round suggest companies are committed to the the mature UKCS. On 23 May 2018 the Oil & Gas Authority (OGA) announced the results of the UK's first mature licensing round. Strong interest levels in this round suggest companies are committed to the the mature UKCS. • 123 licences, covering 229 blocks were awarded. How does this compare to previous licensing rounds? • Over 60 companies bid for acreage. Which company type was the most active? • 14 licences are progressing straight to the field development planning stage. Will this help fill the UKCS project pipeline? • Eight firm wells were committed to. Is this enough to boost UKCS exploration?
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