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We hold offshore and onshore petroleum licensing rounds, inviting applications from companies and making awards to those bids that promise to ensure economic recovery of the UK’s oil and gas resources, whilst supporting the drive to net zero carbon by 2050. 

A company that is party to a licence may wish to sell its interest, or a part of it, to another company. It requires the NSTA ’s prior consent to do so.

The NSTA recognises the need for improved collaboration and a reduction in the commercial and legal complexity of working in the UKCS and has challenged industry to find ways to simplify the complexity and significantly reduce the time required for commercial and legal negotiations.