LONDON: Britain's Oil and Gas Authority (OGA) awarded 259 offshore blocs to 65 companies for oil and gas exploration in areas close to producing fields with existing infrastructure, it said on Thursday. The 32nd offshore licensing round was launched last July, and the OGA has said it would suspend new licensing rounds in 2020/21.
"Government forecasts point to oil and gas remaining an important part of our energy mix for the foreseeable future, as we move towards net zero, as the UK is still expected to be a net importer," the OGA said.
"As such, managing the declining production and maximising the economic recovery from the UK remains vital to meet those energy demands as long as they exist, and to reduce reliance on hydrocarbon imports." Premier Oil, which is currently restructuring its debt and plans to raise new equity, was awarded blocs near its Tolmount and Catcher fields.
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