OGA Opens Investigation into Possible Loss of Value as a Result of a Failure to Collaborate

Source: www.gulfoilandgas.com 6/11/2021, Location: Europe

The Oil and Gas Authority (OGA) has opened an investigation into a possible failure to maximize 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.”


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