The UK's North Sea Transition Authorityofferedon Friday another 31 licenses for North Sea exploration in the final tranche of the 33rd oil and gas licensing round
The UK’s North Sea Transition Authority NSTA offered on Friday another 31 licenses for North Sea exploration in the final tranche of the 33rd oil and gas licensing round. In all three tranches of the licensing round, the UK regulator has awarded over the past few months a total of 82 licenses to 50 companies. The first tranche offered 27 licenses in October 2023, with the second offering 24 licenses in January 2024.
“This will be the main commercial mechanism for these licences to resolve spatial overlaps and to support co-existence of these important industries.” “The North Sea is an important resource for energy security and net zero delivery, so it’s vital that sectors collaborate to ensure those systems can co-exist,” the regulator said.
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