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UK Draws More Than 100 Bids for New Oil, Gas Sites in North Sea

The UK drew 115 bids from 76 companies to lease areas of the seabed to look for oil and gas resources, the North Sea Transition Authority said in a statement on Tuesday.

The leases are the first step in a years-long process to potentially develop new fossil fuel resources in the UK. The government has touted this leasing round as a key tool to improve energy security after Russia’s invasion of Ukraine, even as the country transitions away from dependence on burning fuels that contribute to climate change.