The OGA is opening a Supplementary Licensing Round in Q1 2019 to maximise recovery of the significant potential recoverable resources in the Greater Buchan area.

A new ‘Area Plan’ has also been initiated to maximise economic recovery (MER) from the Greater Buchan area of the North Sea, to develop the 150-300 million barrels of oil equivalent (mmboe) estimated to be present in the area.

Situated in the Outer Moray Firth, the area features considerable open, currently unlicensed acreage, including a number of undeveloped discoveries. The OGA is encouraging companies to partner with each other and collaborate to progress exploration and new developments in the area.

In advance of the Supplementary Round, the OGA hosted an industry engagement/information session in Aberdeen for interested oil and gas companies on 15 November 2018.

The OGA will make significant information available to support this supplementary licence round as detailed in the slide pack from the information session.