Date of material completion of a project described in a Field Development Plan or Field Development Plan addendum

For the purposes of the investment allowance introduced by Finance Act 2015, the Secretary of State may determine a day on which a project was materially completed.

The NSTA publishes lists of projects which it understands to be materially complete (PDF). The projects are listed separately for new fields which qualified for a field allowance and for incremental projects which qualified for a “brownfield allowance” (i.e. an allowance as an additionally-developed oil field). For all projects materially complete by 1 April 2015, that date will be determined as 1 April 2015.

The operator of, or any licensee with an interest in, any field with a project that they think is materially complete but not so shown on these lists should advise Mike Earp (details as below) as soon as possible, providing a rationale for that view. The lists will be kept under review and updated from time to time.

Contact us

Mike Earp
Sanctuary Buildings
20 Great Smith Street


Tel: 0300 067 1604 / 07785 692644