The North Sea Transition Authority (NSTA) announced May 3 it is offering 31 more licenses in the latest phase of the 33rd oil and gas licensing round.
A total of 82 offers to 50 companies have been made in the round, which attracted 115 bids from 76 companies across 257 blocks and part-blocks.
The licenses offered in the round are expected to add an estimated 545 MMboe by 2050 and 600 MMboe through 2060.
The first tranche offered 27 licenses in October 2023, with the second tranche in January 2024 offering 24 licenses.
The awarded licensees, blocks and stakes for the third tranche are:
- Albion Energy, blocks 43/24c, 43/29, 43/30, 43/25, 44/21c, 100%
- Bridge Petroleum, blocks 42/30b, 43/26b, 100%
- dCarbonX, Block 110/3b, 100%
- Deltic Energy, blocks 43/2b, 43/3b, 43/4b, 43/9, 43/14a, 47/5e, 47/10c, 48/6c; 100%
- Finder Energy, blocks 14/23a, 14/24a, 14/27a, 14/28a, 14/29a, 14/30a, 100%
- Finder Energy, blocks 20/1b, 20/2d, 20/3a, 20/6d, 20/7d, 20/8c, in partnership with Dana Petroleum
- Hartshead Resources, blocks 44/19b, 44/21d, 44/22, 44/23b, 44/27, in partnership with Meridian Resources
- Hartshead Resources, blocks 48/10, 48/14d, 4815b, 100%
- Hartshead Resources, blocks 48/18c, 113/27c, in partnership with Comtrack Ltd.
- Horizon Energy Partners Ltd., blocks 36/14a, 36/15a, 36/19, 36/20, 37/11a, 37/16, 36/30c, 42/5c, in partnership with Horizon Energy Acquisition Limited
- Horizon Energy Partners Ltd., blocks 37/26, 37/27, in partnership with Horizon Energy Acquisition Ltd. and Reabold Southern North Sea
- Ineos, blocks 43/12a, 43/13b, 43/12b, 43/13c, 43/14b, 43/17a, 43/18a, 43/19d, in partnership with One-Dyas
- Neo Energy, blocks 22/23c, 22/28b, 100%
- Neptune E&P, blocks 43/20c, 44/16a, 44/17a, 44/21b, 44/13a, 44/16c, 44/17b, 44/18a, 44/23a, 100%
- One-Dyas, blocks 42/2b, 42/3, 42/4, 42/7a, 42/8a, 42/14a, 42/15b, in partnership with Shell
- Orcadian Energy, blocks 50/21a, 50/26, 49/25b, 49/30b, 100%
- Perenco UK, blocks 43/21a, 43/22a, 47/4d, 47/5d, 47/5b, 48/1a, 48/1b, 48/2b, 48/12a, 100%
- Petrogas, Block 48/2c, 100%
Recommended Reading
Global Oil Demand to Grow by 1.9 MMbbl/d in 2024, Says Wood Mac
2024-02-29 - Oil prices have found support this year from rising geopolitical tensions including attacks by the Iran-aligned Houthi group on Red Sea shipping.
Paisie: Dutch Vehicle Fleet Foreshadows Structural Shifts
2024-03-26 - The expanding role of battery electric vehicles will be supported by the development of associated supply chains, as indicated by Stratas Advisors' forecast of global EV battery production capacity.
Kissler: Mideast Tension Elevates Crude Prices—But for How Long?
2024-05-09 - Producers should be aggressive in locking in desirable crude oil prices on an abnormal market strength.
Oil Market Shifting Back to Supply/Demand
2024-03-08 - Stratas Advisors' John Paisie forecasts the price of Brent crude to increase during the second and third quarters of this year and move toward $90/bbl.
Oil Rises After OPEC+ Extends Output Cuts
2024-03-04 - Rising geopolitical tensions due to the Israel-Hamas conflict and Houthi attacks on Red Sea shipping have supported oil prices in 2024, although concern about economic growth has weighed.