Tuesday 2 August 2016

UK oil & gas gets £6m for offshore exploration

The Oil and Gas Authority (OGA) has awarded £6 million to explore and study UK offshore areas.

The surface and subsurface study contracts have been secured by Lloyd’s Register, British Geological Survey and Schlumberger.

The contracts will last three years and aim to maximise the economic value of the UK Continental Shelf (UKCS) by funding further understanding of how exploration, development, production, late-life planning and decommissioning will work in the field.

Gunther Newcombe, OGA Exploration Production and Decommissioning Director, said: “In order to fulfil OGA’s goal to maximise economic value of the UKCS, it is vital we can independently assess remaining undiscovered resources and improve our geotechnical understanding.

“In addition, OGA is seeking to drive regional development and protect critical infrastructure while promoting the best application of new technologies."

OGA recently offered 1,200 blocks for offshore drilling on the UKCS.