Resumen
The Petroleum Act 1998 consolidated legislation on oil and gas exploration and production in the UK Continental Shelf. It vests ownership of petroleum in the Crown and establishes the licensing regime administered by the North Sea Transition Authority (formerly Oil and Gas Authority). It also provides for decommissioning obligations.
Puntos clave
- Vests all petroleum in strata in the Crown (s.2)
- Secretary of State may grant exploration and production licences (s.3)
- Model clauses incorporated into licences (schedule terms)
- Establishes decommissioning obligations on licensees and owners (Part IV)
- Section 29 notices require decommissioning programmes
- Joint and several liability for decommissioning costs
Partes y secciones
Historial de enmiendas
2016 — Energy Act 2016
Created the Oil and Gas Authority (now NSTA) as an independent regulator to maximise economic recovery of UK petroleum.