High interest in offshore but low commitments in UK round
134 licences were awarded, and a further 94 are subject to environmental assessment
Awards made in November in the UK’s 28th licensing round point to a high level of interest in the offshore, particularly from smaller explorers - but work commitments add up to only six firm wells. The majority of operators have committed only to reprocessing existing seismic data, although all licences provide for a drill-or-drop well option. The Department of Energy and Climate Change (DECC) awarded an initial 134 licences covering 252 blocks, and said another 94 licence applications are still subject to environmental assessment. The round could therefore prove to be larger than the 27th round, under which 219 licences were awarded in 2012 and 2013. Promote licences, under which small com
Also in this section
23 April 2026
The addition of an oil pipeline to the Power of Siberia 2 gas project could ensure deliveries of Russian oil to China, materially shorten logistics lines between West Siberia and final customers, and—amid disruption in the Strait of Hormuz—offer a land-based export route that reduces exposure to maritime chokepoints
23 April 2026
There is a clear push to bolster exports to Asia amid uncertainty around its North American neighbour, but there are limits to the benefits from the energy crisis
23 April 2026
Shell made the play-opening discovery in Namibia’s Orange basin back in 2022, but its next well could decide whether the project can actually be commercialised
22 April 2026
The failure of OMV Petrom’s keenly watched exploration campaign at Bulgaria’s Han Asparuh block highlights the Black Sea’s uneven track record, despite major successes like Neptun Deep and Sakarya
