Companies can apply until 25 April for new North Sea licences under the latest round, which is known as the 28th Seaward Round.
Energy Minister Michael Fallon said his government aimed to help boost economic growth, energy security and employment by increasing exploration activity with the new round.
“There continues to be extremely high level of interest in North Sea oil & gas, which is unsurprising when there could be as many as 20 billion barrels of oil still buried deep within the seabed,” Fallon said.
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