The North Sea Transition Authority (perhaps the transition is a bit more complicated than changing the name of the licensing agency) has announced the awarding of 27 new oil and gas licenses in the UK sector of the North Sea. Summary bullets:
- Quicker-to-production areas chosen to aid UK energy security
- First to be awarded from 115 applications – the highest number since 2016/17 29th Licensing Round (see map below)
- More blocks will be offered subject to additional environmental checks
These licences are in the Central and Northern North Sea, and West of Shetland. There are currently 284 offshore fields in production in the UK North Sea and an estimated 5.25 billion boe in total projected production to 2050.
Bud's Offshore Energy (BOE) 