Search

The licence model clauses oblige the licensee to nominate an entity that has responsibility for organising or supervising all or any of the operations of searching or boring for or getting petroleum in pursuance of the licence, namely: 

In March 2020, the North Sea Transition Authority (NSTA) commissioned four studies to investigate seismicity resulting from the Preston New Road 2 (PNR2) hydraulic fracturing operations.

The model clauses do not impose any requirement for approval of a change of control of a Licensee, for example, a corporate takeover, but they do grant NSTA the power to require a further change of control, and failing that a power of revocation.

The NSTA estimates that there is potential for up to 3.8 trillion cubic feet (tcf) of remaining gas resources within the Southern North Sea (SNS), inclusive of infill opportunities, undeveloped discoveries and prospects.

Operators must apply to the NSTA for relevant consents and approvals to carry out well related activities.

This page contains information regarding the Annual Consents Exercise (“ACE”) in the following sections: 

One of the key actions of the Wood Report was that Government and Industry should together create an up-to-date, readily accessible, digital perspective on the prospectivity and geology of the UKCS. 

The NSTA operates a licensing regime that gives companies exclusive rights to search, bore for and get petroleum. Petroleum licences are issued after a competitive process, usually a licensing round.