25 Nov 2024 Repsol North Sea Limited fined £350,000 for unreasonable practice and halting NEO’s production
Security over licences It is common practice for banks lending money to companies to demand a charge on the company’s assets as a form of collateral. View more
Overview - Licensing and Consents Licences fall into several categories. The principal distinctions are between onshore licences and offshore licences, with a further distinction between exploration licences. View more
Licensing regime The Petroleum Act 1998 vests all rights to the nation’s petroleum resources in the Crown, but the North Sea Transition Authority can grant licences that confer exclusive rights to ‘search and bore for and get’ petroleum. View more
Operatorship The licence model clauses oblige the licensee to nominate an entity that has responsibility for organising or supervising all or any of the operations of searching or boring for or getting petroleum in pursuance of the licence, namely: View more
Flaring and venting The NSTA is the regulator for flaring and venting under the Energy Act 1976 (as amended by the Energy Act 2016) and the Petroleum Act 1998 View more
What we do - Licensing and consents The UK’s offshore and onshore energy resources are being developed by a wide range of companies spanning different sectors. These rich and abundant resources continue to attract new companies and investors from within the UK and overseas. View more
