UK licensing round goes back in time
Mature UK acreage is up for grabs on improved terms, but attracting the explorers could still prove difficult
The year 1965 was an exciting time for the UK oil and gas industry—the fledgling sector's best years lay ahead and everyone was interested in taking a piece of the action. The view 50 years on is a little different, but the UK's Oil and Gas Authority (OGA) hopes to rekindle some of the same spirit in its latest licensing round. On offer is exploration acreage not visited since the heady days. The 30th bid round, formally launched on 25 July, offers 813 blocks or part blocks in mature areas of the UK Continental Shelf (UKCS), covering a total area of 114,426 square km. The acreage lies in the southern, central and northern North Sea areas, as well as West of Shetland and the East Irish Sea.
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