The energy security secretary said the move was a welcome economic boost.
However, climate campaigners said they intended to challenge the decision in court.
However, climate campaigners said they intended to challenge the decision in court.
In addition to the 27 licences, six more blocks, which were also ready to be offered, have been merged into five existing licences.
In total, the North Sea Transition Authority (NSTA) received 115 applications from 76 companies for 258 blocks/part-blocks when the application window closed on 12 January 2023. This was the highest participation since the introduction of the Innovate Licences in 29th Round in 2016/17.
In recent years, the average time from licence award to production has been about five years.
Energy Security Secretary Claire Coutinho said: “These new licences are a welcome boost for the UK industry, which already supports around 200,000 jobs and contributes £16bn to the economy each year – while advancing our transition to low-carbon technologies, on which our future prosperity depends.”
However, climate campaigners said they intended to challenge the decision in court.
The energy security secretary said the move was a welcome economic boost.
However, climate campaigners said they intended to challenge the decision in court.
However, climate campaigners said they intended to challenge the decision in court.
In addition to the 27 licences, six more blocks, which were also ready to be offered, have been merged into five existing licences.
In total, the North Sea Transition Authority (NSTA) received 115 applications from 76 companies for 258 blocks/part-blocks when the application window closed on 12 January 2023. This was the highest participation since the introduction of the Innovate Licences in 29th Round in 2016/17.
In recent years, the average time from licence award to production has been about five years.
Energy Security Secretary Claire Coutinho said: “These new licences are a welcome boost for the UK industry, which already supports around 200,000 jobs and contributes £16bn to the economy each year – while advancing our transition to low-carbon technologies, on which our future prosperity depends.”
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