THE UK has launched its 27th offshore licensing round, offering 2,800 blocks in the North Sea to boost reserves in the UK Continental Shelf.
The round, which will close on May 1, follows on from the successful 26th round in 2010, which resulted in the largest number of licenses issued 190 since offshore licensing began in 1964.
“This is shaping up to be a very prosperous year for the North Sea as we expect a substantial increase in field approvals,” said Energy Minister Charles Hendry.
“With around 20 billion barrels of oil still to be extracted, the UK Continental Shelf has many years of productivity left.”
“The industry supports nearly half a million jobs and today's announcement will ensure a wealth of outstanding long-term career opportunities for people of all ages from North East Scotland right across the UK,” he said.
Oil News | UK North Sea
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