Statoil, ExxonMobil, Shell and BP are among the notable names granted awards in the UK’s latest offshore licensing round, which focused on frontier areas of the country's exclusive economic zone.

In all, 25 licences were awarded to 17 companies, which included new entrants as well as established multinationals, the Oil & Gas Authority (OGA) said as it released results of the 29th Offshore Round.

The awards covered 111 blocks in the Rockall basin west of Scotland, the Mid-North Sea High area in the central North Sea and part of the East Shetland Platform in the northern North Sea.

That is less than 10% of the 1261 blocks offered when the round launched on 27 July, but OGA believes the round was a positive endorsement of the UK’s remaining exploration potential.

OGA pointed out that the round is the first in two decades to focus solely on frontier areas, and has taken place during a difficult period following the collapse in the oil price.

The authority's chief executive Andy Samuel said: “We are particularly pleased to see firm well commitments, the targeting of new and under-explored plays, and first-time entrants alongside a number of established companies, which will help stimulate further activity and value creation."

“While exploration activity has undoubtedly suffered as a result of the difficult market conditions, we are now seeing highly encouraging success rates and finding costs on the UK continental shelf. This is testament to the value of a robust and focused exploration strategy with commitment from industry, government and the OGA.”

The round’s only well commitments came from Norwegian operator Statoil, which has pledged to drill three probes on acreage it was awarded on the East Shetland Platform, east of the Orkney Islands.

In total, Statoil was awarded 17 blocks or part-blocks.

Other work programmes offered by operators involve the use of new technology, the OGA said.

ExxonMobil has been awarded 14 blocks and part-blocks in the Rockall Trough area on the Atlantic margin, about 150 kilometres south-west of the Hebridean island of South Uist and on the median line with Ireland’s offshore territory, where the US supermajor is also exploring.

In the same region, but farther north, Anglo-Dutch supermajor Shell picked up 13 blocks and part-blocks.

Back on the East Shetland Platform, awards have gone to BP, Abu Dhabi-state controlled company Taqa, private-equity backed Azinor, Decipher Energy, Zennor Petroleum and Alpha Petroleum.

Meanwhile, farther south in the Mid-North Sea High area, awards have gone to UK utility Centrica, private-equity backed Chrysaor - which recently bought much of Shell’s maturing UK assets - Ardent Oil, privately-funded Simwell Resources, Steam Oil, North Sea Natural Resources and Draupner Energy.

The round attracted applications from 24 companies for 113 blocks when it closed in October 2016.

All areas in the round have been covered by new UK government-funded seismic programmes under an initiative to boost flagging exploration levels.

Operators have also been able to apply for a new type of licence, called the Innovate Licence, designed by OGA to give operators greater flexibility around their work programme.

Statoil said when it submitted applications last year that it still believed the UK waters had potential and the company is planning to drill three exploration wells on other acreage this year.

BP also said at the time that its application “maintained the impetus generated by our recent licence round applications”.

OGA said all the applicants in the latest round have been screened for financial capacity and technical, safety and environmental capabilities.

The next offering, the 30th Offshore Round, will focus on mature areas and is expected to be the most significant in recent decades, including some blocks not available since the third round which was held in 1970.

It is likely to be announced towards the end of the next quarter, OGA said.

The previous 28th round was launched on 24 January 2014 when oil was still trading at about $100 per barrel.

A total of 175 licences were awarded, covering 353 blocks, making it one of the largest rounds in the five decades since the first UK North Sea licensing round took place in 1964.

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UK hands out frontier acreage