The Oil and Gas Authority (OGA) has awarded a total of more than £200,000 to a trio of geoscience companies for projects aimed at boosting offshore exploration.
The OGA said today it had received more than 60 funding applications from the UK, Canada, USA, Australia and Europe for its exploration licence competition, which launched in March.
One of the winners, Kingswells-based Geop4ysics, will integrate rock physics into the overall interpretation of the MNSH data set.
Frogtech, based in Canberra, Australia, will create a model of the Rockall and Mid-North Sea High (MNSH) areas that will provide greater insight into their geological foundations.
Geoscience Wales will document the potential of petroleum systems within the basins, with a strong focus on source rock geochemistry and basin modelling.
Their projects will use seismic data gathered during last year’s UK-Government-funded survey of the two areas.
The OGA will use the products to decide which companies should be awarded blocks in the 29th Licensing Round, which kicked off last month.
The deadline for licence applications is October 26, 2016.
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.
“All the projects submitted will provide greater insight into our understanding of the Rockall Trough and Mid-North Sea High areas, while adding value to our evaluation of 29th Offshore Licensing Round applications.
“Given the high quality of the technical work delivered by all applicants, there is also the option for products to be integrated into other OGA exploration initiatives, such as the production of regional geological maps, to proactively influence and incentivise exploration on the UKCS.”