New frontiers opened up in North Sea licensing round

Seventeen companies have been successful in picking up new North Sea licences.

The Oil and Gas Authority (OGA) said it had awarded a total of 25 licences relating to 111 blocks in the 29th Offshore Licensing Round.

The process was the first in more than two decades to solely focus on frontier, under-explored areas such as Rockall, Mid-North Sea High and the East Shetland.

The first two areas were subject of a £20 million Governmentfunded seismic data programme in 2015 – a key factor in a number of licence applications.

OGA CEO Andy Samuel said: “We are particularly pleased to see firm well commitments, the targeting of new and underexplored plays, and first-time entrants to the basin, alongside a number of established companies, which will help stimulate further activity and value creation.”

OGA said it expected the 30th Licensing Round – open to applications in the spring – to be the “most significant” for decades.