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OGA opens investigation into possible loss of value as a result of a failure to collaborate

OGA opens investigation into possible loss of value as a result of a failure to collaborate

 

The Oil and Gas Authority (OGA) has opened an investigation into a possible failure to maximise economic recovery for the UK due to a commercial disagreement.

The OGA considers there to be sufficient initial evidence and will now open a sanctions investigation.

The investigation will now, among other things:

  • gather and assess further information to enable the OGA to reach a decision
  • offer the companies concerned the opportunity to provide written representations
  • decide how the case should be resolved

A June 2019 OGA letter to licensees and infrastructure owners outlined the OGA’s regulatory approach. While praising a great deal of constructive engagement, the letter noted that: “Despite good progress we still see too many issues taking too long to resolve or ending up in deadlock between disputing parties, threatening MER UK.”

Read the latest issue of the OGV Energy magazine HERE.

Published: 11-06-2021

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