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North Sea awarded 41 new oil and gas licenses

28 Jul 2015

41 new licenses have been awarded for oil and gas operations in the North Sea – one of the largest rounds in the last 50 years.

The Oil and Gas Authority confirmed the new licenses following the announcement of 134 of these in November 2014.

In March, the UK Government announced a major package of support to encourage £4 billion of additional investment in the North Sea.

These new license awards have demonstrated that the UK’s oil and gas resources are still generating interest and value.

This step will also provide jobs for people in the area and will reduce reliance on foreign imports.