The Oil and Gas Authority has launched a £500,000 competition aimed at unlocking the North Sea’s exploration potential.
The OGA is on the hunt for eager geoscientists and engineers, who can develop innovative interpretations and products from its £20million seismic survey results of the Rockhall Basin and Mid North Sea High (MNSH).
Gunther Newcombe, OGA exploration and production director, said: “We hope this competition will lead to a greater understanding of some of the UK’s frontier areas and capture the imagination of some of the brightest minds in the highly talented geoscience community.
“For the first time, substantial quantities of new and reprocessed seismic data will be freely and openly available to all. This, and the forthcoming implementation of a more flexible new licensing regime, will play a crucial role in revitalising exploration of the basin.”
Energy Minister Andrea Leadsom added: “This Government is clear that the broad shoulders of the UK are fully behind our vital oil and gas industry, the hardworking people it employs and the families it supports.
“New exploration is its lifeblood and we funded these seismic studies to support the industry in exploring and unlocking that potential. This competition encourages companies to come up with new, innovative ways to make the most of this data and I look forward to seeing what they propose.”
Successful applicants will be given up to £30,000 ‘seed funding’ to carry out initial analysis.
The OGA will then award £100,000 each to a final duo to develop their work into a final product for use.
Applicants will get access to 40,000km of new and reprocessed legacy seismic data as well as gravity, magnetic and well data.
A further £500,000 in prize money could also be awarded in additional competition next year, according to the authority.
The 29th Seaward licensing round will open later this year and will focus on frontier areas.
Recommended for you
