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LAST MONTH , THE United Kingdom ’ s Oil and Gas Authority ( OGA ) awarded more than £ 200,000 in the final stage of its exploration license competition designed to pique further interest in offshore oil and gas exploration in the UK Continental Shelf .
As part of the competition , geoscientists and engineers could be awarded up to £ 30,000 to develop their work into a final product to be used by the OGA . Winners included Australian geoscience firm FROGTECH , private company Geop4ysics and not-for-profit earth sciences consultancy Geoscience Wales .
The exploration license contest comes amid a period of turmoil for the UK ’ s North Sea oil industry . In May , the sector posted a loss to taxpayers for the first time in its history , with the Treasury putting £ 24 million more into investment and decommissioning than it got back in petroleum revenue tax for the 2015 / 16 tax year .
In 2014 , those employed in the North Sea oil sector stood
24 October 2016
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