UKCS Licensee Financial Analysis Support

The Department of Business, Energy and Industrial Strategy (BEIS) have a team which consists of subject experts embedded from the OGA, policy and programme expertise from BEIS and external insolvency and financial advisors. This team has been working with others in Government to understand the financial challenges faced by UK Continental Shelf (UKCS) licence holders in light of the enduring lower oil and gas prices and what impact that may have on their activities and decommissioning obligations. BEIS have recently implemented measures to assess and identify potential Licensees who may already be, or may be likely to be in the near future, in financial distress. To inform this review of…

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