The North Sea Transition Authority (NSTA) of the United Kingdom has announced the allocation of 31 new oil and gas licenses in the North Sea, in the third and final batch of the country’s 33rd oil and gas round. The latest tranche comprises 31 licenses, 29 new ones and two merges while a small number of remaining applications are still under consideration. Several additional licenses may be offered at some later date.
The 33rd round attracted 115 bids in total from 76 companies across 257 blocks and part-blocks, resulting in 82 offers to 50 companies. The licenses offered in the round are expected to add an estimated 545 mboe by 2050 and 600 mboe up to 2060.
The 33rd licensing round was opened in October 2022, offering acreage across the North Sea (West of Shetland, Northern North Sea, Central North Sea, Southern North Sea, and East Irish Sea) including four priority areas with known hydrocarbons. The first batch of 27 awards was handed out in October 2023, followed by a second batch of 24 licenses in January 2024.
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