The Anonymous Widower

NSTA Reveals Winners Of Latest North Sea Licensing Round

The title of this post, is the same as that of this article on Energy Voice.

This is the sub-heading.

The North Sea Transition Authority (NSTA) has issued 31 new exploration licences as part of the third tranche of its latest Licensing Round, with firms including Hartshead Resources, Neptune Energy and Perenco UK among the winners.

These first two paragraphs give more detail.

The NSTA said the licences offered in the latest round are expected to add an estimated 600 million barrels of oil equivalent (mmboe) up to 2060, or 545mmboe by 2050.

The release of the third tranche follows the awarding of 27 licences in the first tranche in October last year, and 24 licences awarded in the second tranche in January.

Surely, with the growth of wind in the next twenty years, this oil and gas will get the UK through to 2050.

Hopefully too, we’ll need to import less oil and gas.

Conclusion

I would rate this as good news.

May 9, 2024 - Posted by AnonW | Energy | North Sea Oil And Gas, North Sea Transition Authority (NSTA)