North Sea Transition Authority (NSTA) has awarded 31 new oil and gas licences in the North Sea, supporting UK energy security and jobs. The move forms part of as the Britain’s oil and gas regulator’s efforts to extend production in the ageing basin. Awarded as part of the third and final tranche of the NSTA’s 33rd oil and gas licensing round, the licences are primarily aimed at gas extraction in the southern North Sea, according to industry body Offshore Energies UK (OEUK). The licences are expected to come on stream within the next five years. Following comprehensive environmental assessments, the third tranche has ... (full story)