UK names final winners from 28th seaward licensing round

LONDON -- The Oil and Gas Authority—the UK's oil and gas regulator—announced the remaining winners from the 28th Offshore Licensing Round on Monday.

The 41 new licenses awarded on Monday, in addition to the 134 confirmed in late 2014, makes this one of the largest rounds in the five decades since the first licensing round took place in 1964—a total of 175 licenses covering 353 blocks.

The 28th Offshore Licensing Round was launched on Jan. 24, 2014, and a total of 173 applications were received. The main tranche of awards was announced on Nov. 6 and Monday’s awards were confirmed following additional environmental assessment and consultation.

Andy Samuel, chief executive, Oil and Gas Authority, said, “The UK Continental Shelf remains a world-class hydrocarbon province where significant resources and economic value remain to be realized. The good level of interest in the 28th Round highlights the continued attractiveness of the UK’s oil and gas resources.

“Licences are however just a start and industry, government and the OGA now need to work together to revitalize exploration activity across the basin and convert licenses into successful exploration wells.”