Chapter 3 of the Energy Act 2016 consolidates, strengthens and broadens existing requirements in relation to the retention of information and samples and reporting of them to the OGA.
Licensees should be aware of the following 2 points:
- All companies who own petroleum related samples and information (data) relating to UKCS licenses will be required to have an “Information and Samples Coordinator”. This person shall be in charge of ensuring the company’s samples and data satisfy OGA regulations, that include provision about the manner and the period that the information and samples must be retained.
- Before any ”licence event” can be authorised, an “information and samples plan” will be required to set out what is to happen to the licence’s assets. A “licence event” is the transfer, surrender, expiration or revocation of rights under an offshore licence of whole or part of the area in respect to which the licence was granted.
Please contact us for advice about getting your samples and data audited, cleansed and validated by experts who have been at the forefront of identifying and collating specific physical and digital assets related to licences, with subsequent cleanup and rationalisation, for the past 30 years and more.