The following Energy practice note provides comprehensive and up to date legal information covering:
Oil and gas decommissioning is usually undertaken by the designated operator of the licence (for an on behalf of its coventurers), therefore it is important to make sure that all agreements are in place for all relationships.
For more information on JOAs and DSAs, see Practice Notes:
The purpose and the principles of the joint operating agreement
Joint operating agreements—operator and non-operating party perspectives
Decommissioning—decommissioning security agreement
The Decommissioning Relief Deed/(DRD) is a contract between the UK government and a 'Qualifying Company' which operates in the oil and gas exploration and production market in the UK or on the UK Continental Shelf (UKCS).
It aims to provide certainty on the tax relief a Qualifying Company will receive at the time of offshore oil and gas decommissioning
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