The UK Division for Power Safety and Web Zero has confirmed its stance on oil and gasoline licensing in response to questioning from Rigzone.
“We won’t problem new licences to discover new fields,” a division spokesperson informed Rigzone.
“We may even not revoke current oil and gasoline licences and can handle current fields for the whole thing of their lifespan,” the spokesperson added.
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“We’re working with the North Sea Transition Authority (NSTA) to make sure a good and balanced transition within the North Sea,” the spokesperson went on to state.
The UK Division for Power Safety and Web Zero remark was despatched to Rigzone in response to a collection of questions, wherein Rigzone requested the division if it had banned new oil and gasoline exploration, if there shall be a thirty fourth offshore licensing spherical below a Labour authorities, and if all corporations that had been provided licenses below the thirty third offshore licensing spherical would have the ability to proceed with these licenses.
Rigzone additionally highlighted to the division that, again in Could, in an announcement posted on the NSTA web site referring to the newest tranche of licenses provided as a part of its thirty third, and newest, licensing spherical, the NSTA famous that “additional consideration is being given to a small variety of remaining functions and some extra licenses could also be provided at a later date”. Rigzone requested the Division for Power Safety and Web Zero if these licenses will nonetheless be provided.
The NSTA introduced in a Could 3 assertion that it had provided an extra 31 licenses within the newest section of the thirty third oil and gasoline licensing spherical.
“A complete of 82 provides to 50 corporations have now been made within the spherical which attracted 115 bids from 76 corporations throughout 257 blocks and part-blocks,” the NSTA stated in that assertion.
“The licenses provided within the spherical could be anticipated so as to add an estimated 600 million barrels of oil equal as much as 2060, or 545 by 2050,” it added.
That assertion highlighted that the primary tranche provided 27 licenses in October final 12 months and that the second section provided 24 licenses again in January this 12 months.
“The variety of awards within the present spherical are broadly just like the latest predecessors,” the NSTA stated within the assertion.
“The thirty second Offshore Licensing Spherical provided 113 licenses over 260 blocks or part-blocks to 65 corporations, the thirty first Spherical, which centered on frontier areas, provided 37 areas over 141 blocks or part-blocks to 30 corporations; and the thirtieth Spherical provided 123 licenses over 229 blocks or part-blocks to 61 corporations,” the NSTA added.
In a launch despatched to Rigzone final week, business physique Offshore Energies UK (OEUK) stated the King’s Speech should set out a path that helps the UK offshore power business.
OEUK said within the launch that the UK offshore power business expects the brand new Labour authorities to ship on its dedication to work in partnership with business as particulars of its program for presidency are revealed within the King’s Speech.
OEUK warned within the launch that its member corporations are “deeply involved concerning the affect of proposals for an extra windfall tax and an finish to new oil and gasoline licenses”. The group famous that the main points of those proposals, alongside enchancment to the regulatory and monetary atmosphere, shall be key to attaining the complete potential for the UK to ship a homegrown power transition.
The King reads out the speech, written by the federal government, from the throne within the Home of Lords, the UK Parliament web site notes. The state opening of parliament and the King’s Speech will happen on Wednesday, July 17.
Rigzone has requested the Labour Social gathering and the UK Division for Power Safety and Web Zero for touch upon OEUK’s launch. On the time of writing, neither group has responded to Rigzone with remark but.
A UK Common Election occurred on July 4. With all 650 seats declared, Labour received 411 seats, the UK Parliament web site confirmed, highlighting that this was up 209 on Labour’s whole from the earlier UK election in 2019.
Ed Miliband was appointed Secretary of State for Power Safety and Web Zero on July 5. The Secretary of State has general duty for the Division for Power Safety and Web Zero, in response to the federal government’s web site. Claire Coutinho beforehand held this position from 2023 to 2024. Previous to that, Grant Shapps held the position in 2023.
Miliband just lately outlined his priorities in a message to employees, which was posted on the UK authorities web site.
Oil and gasoline manufacturing helps over 200,000 jobs within the UK, of which round 84,000 are in Scotland, in response to a key info web page on OEUK’s web site. The web page highlights that oil and gasoline will nonetheless present 50 p.c of the UK’s power wants within the mid-2030s and notes that that is estimated to fall to 22 p.c by 2050.
“The offshore business might make investments round GBP 450 billion [$583.2 billion] between now and 2040,” the web page states.
“That is wanted to responsibly handle our oil and gasoline provides, while increasing offshore wind capability and kickstarting carbon storage and low carbon hydrogen manufacturing,” it provides.
OEUK represents over 400 organizations concerned in power manufacturing from the seas across the Britain’s coast, the group’s web site states. Its members embody gasoline, oil, wind, hydrogen and carbon seize specialists and a major provide chain supporting initiatives throughout the sector, it provides.
To contact the writer, electronic mail andreas.exarheas@rigzone.com
