The UK Government and the UK North Sea Transition Authority (NSTA) have confirmed their plans to increase the UK’s energy security and reduce dependence on higher-emission imports by awarding over 100 new oil and gas licenses in total to potentially develop 898 blocks and part-blocks in the British North Sea during the 33rd oil and gas exploration licensing round. This round, launched in October 2022, had already attracted 115 bids in January 2023.
According to an analysis conducted by the NSTA this decision should not affect the UK’s target to meet net zero in 2050 since it is projected that more than a quarter of its energy demand should come from oil and gas. The government has just announced its support to two new CCUS clusters, namely Acorn in North East Scotland (initial capacity of 300 ktCO2/year) and Viking in the Humber region (up to 10 Mt/year by 2030), betting on CCUS to capture 30 MtCO2 by 2030.
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