Scotland business

North Sea oil and gas licensing round 'strong'

North Sea platform Image copyright PA

The oil and gas industry has responded "strongly" to the latest offshore licensing round.

It was focused on under-explored areas of the UK continental shelf (UKCS) - the first so-called Frontier licensing round in more than 20 years.

The Oil and Gas Authority (OGA) said 29 applications had been received from 24 companies.

OGA chief executive Andy Samuel said: "Despite the difficult climate, industry has responded strongly."

He explained: "This confirms the high remaining potential in the UKCS frontier areas.

"Long-standing investors continue to seek new acreage and we also welcome the arrival of new entrants."

The upcoming round will cover mature areas of the UKCS.

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