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Shell, Equinor and bp secure key stake in UK’s mega oil and gas licensing round

Seventeen companies, including major players like Shell, Equinor, bp, TotalEnergies and NEO, have been granted 24 licences in the ongoing 33rd oil and gas licensing round.

During this round, 74 blocks and part-blocks were offered covering areas in the Central North Sea, Northern North Sea and West of Shetland.

The remaining blocks, predominantly situated in the Southern North Sea and East Irish Sea, will be made available pending the completion of environmental evaluations.

Minister for Energy Security and Net Zero Graham Stuart said: “We will continue to need oil and gas over the coming decades, so it is common sense to make the most of our own resources – with domestically produced gas almost four times cleaner than importing Liquefied Natural Gas from abroad.

“These new licences will strengthen our energy security now and into the future, while also helping boost our economy, by backing an industry that supports 200,000 jobs and is worth £16 billion each year.”

Energy Live News
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This article first appeared on Energy Live News, an award winning news service. Their mission is to give you balanced news, analysis, commentary of energy from their dedicated team of quality journalists and production staff.
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