Britain will likely run a North Sea offshore oil and gas licensing round for existing discoveries this year, a spokesperson for the Oil and Gas Authority (OGA) said on March 21.
The OGA, which is changing its name to the North Sea Transition Authority (NSTA), can hold the licensing round as soon as the government has completed its work on a new climate compatibility framework for oil and gas production, it said.
Britain is expected to publish a plan next week on how to boost domestic energy supplies to try to tackle spiraling prices and reduce the amount of imported oil and gas from Russia after its invasion of Ukraine.
As the host of the COP26 climate conference last year, Britain has also come under fire from activists for allowing continued investments in its oil and gas fields. Read full story
Britain last awarded oil and gas licenses in 2020. The new round would focus on acreage where data has already shown that hydrocarbons exist, the spokesperson said, adding it was too early to give further details on which blocks might be offered.
Recommended Reading
Ohio Oil, Appalachia Gas Plays Ripe for Consolidation
2024-04-09 - With buyers “starved” for top-tier natural gas assets, Appalachia could become a dealmaking hotspot in the coming years. Operators, analysts and investors are also closely watching what comes out of the ground in the Ohio Utica oil fairway.
Dara Energy Acquires Assets in Three States from Vinland
2024-05-06 - Dara Energy closed an acquisition of low decline oil and gas assets in Kentucky, Tennesee and Texas from Vinland Energy.
Pembina Cleared to Buy Enbridge's Pipeline, NGL JV Interests for $2.2B
2024-03-19 - Pembina Pipeline received a no-action letter from the Canadian Competition Bureau, meaning that the government will not challenge the company’s acquisition of Enbridge’s interest in a joint venture with the Alliance Pipeline and Aux Sable NGL fractionation facilities.
Tivoli Midstream Buys Southeast Texas Coast Infrastructure
2024-04-29 - Tivoli Midstream acquired the Chocolate Bayou from Ascend Performance Materials, including storage and land for development.
SCF Acquires Flowchem, Val-Tex and Sealweld
2024-03-04 - Flowchem, Val-Tex and Sealweld were formerly part of Entegris Inc.