15 Aug OGA awards $250k for offshore exploration projects
The Oil and Gas Authority (OGA) has awarded more than USD$258 thousand to a team of geoscience companies for offshore exploration projects.
The OGA said it had received more than 60 funding applications from the UK, USA, Canada, Australia and Europe for its exploration licence competition.
One of the winners, Frogtech from Canberra, Australia will develop a model of the Rockall and Mid-North Sea High (MNSH) areas that will generate greater insight into their geological foundations.
Geop4ysics from Scotland will integrate rock physics into the overall interpretation of the MNSH data set.
Geoscience Wales will document the potential of petroleum systems within the basins, with a strong focus on source rock geochemistry and basin modelling.
These projects will use seismic data gathered during last year’s survey of the two areas.
The OGA will use the products to decide which companies should be awarded blocks in the 29th licencing round.
Gunther Newcombe, OGA exploration, production, and decommissioning director said: “Despite the global downturn in the oil and gas industry, the overwhelmingly positive response to this competition highlights the tenacity and talent of the global geoscience community.”
The deadline for applications is 26 October.