Britain Set to Hold Oil, Gas Licensing Round This Year: Regulator

Britain last awarded oil and gas licenses in 2020. The new round would focus on acreage where data has already shown that hydrocarbons exist, a spokesperson said.

Reuters

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.

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