The UK is currently trying to perform the difficult balancing act of squeezing the maximum value from its remaining domestic oil and gas resources while also setting the nation on course to achieve its legally binding objective of becoming a net zero carbon emitter by 2050.

It was against this backdrop that the Oil & Gas Authority (OGA) handed out awards last week in the UK’s 32nd offshore licensing round.

Although operators offered no firm drilling commitments, given the dire economic climate, the high level of interest was encouraging for the UK.