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:
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.