The Oil and Gas Authority (OGA) has awarded exploration and production rights to a number of operators in its latest licensing round.
Shell , BP , Chevron and Total were some of the supermajors awarded licenses in the various blocks located in the North Sea.
The awards come after Shell announced plans to give shareholders £100 billion in dividends and share buybacks between 2021 and 2025, double the amount between 2011 and 2015.
Norwegian multinational Equinor, and former AIM listed Faroe Petroleum, who were bought out by Norwegian DNO ASA last year, were also awarded licenses in the North Sea licensing round.
Some of the smaller oil and gas players awarded blocks include United Oil & Gas, Reabold Resources, Upland Resources and Andalas Energy.
Reabold Resources (RBD) was awarded five licenses, one in the English Channel, two in the Inner Moray Firth, one in the Viking Graben and one in the West of Shetland basin.
United Oil & Gas (UOG) was among those awarded blocks in the North Sea, with a 100% interest in awarded Blocks 14/15c, 15/11c, 15/12a, and 15/13c. It also was awarded licenses in the English Channel via a partnership operated by Corallian Energy Ltd.
Andalas Energy (ADL) was among those awarded licenses in the English Channel via partner Corallian Energy, which included Blocks 89/11b and 98/12. Its wholly owned subsidiary, Resolute Oil and Gas, has an 8% interest.
Upland Resources (UPL) was awarded seven blocks and part blocks in the Inner Moray Firth, as well as some via its partnership with Corallian Energy.
The UK’s Oil and Gas Authority reported stronger interest in this round than the previous frontier offering made in 2016.