Decommissioning of Offshore Installations upon the UK Continental Shelf

Gordon, Greg; Paterson, John

doi:10.1017/9781780689487.017

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Financial Capabilities and Liabilities2

For Environment and Decommissioning And Guidance Notes1

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2021

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“…The Guidance Notes specify the way that the governmental discretion regarding decommissioning is applied by the Secretary of State. 273 They help stakeholders by guiding them through the process and by giving some general advice regarding the decommissioning of an offshore installation. 274…”

Section: For Environment and Decommissioning And Guidance Notesmentioning

confidence: 99%

“…318 However, the option to require a security is only used occasionally. 319 The costs of decommissioning should be covered by the owner's cash flow. 320 However, it is more likely that parties to the JOA 321 enter into a Decommissioning Security Agreement (DSA).…”

Section: Financial Capabilities and Liabilitiesmentioning

confidence: 99%

“…320 However, it is more likely that parties to the JOA 321 enter into a Decommissioning Security Agreement (DSA). 322 The DSA is there to protect the UK Government (and the taxpayers) from being obligated to fund the activity. 323 An obligation to enter into such an agreement is included in most of the newer JOAs but not in the older ones.…”

Section: Financial Capabilities and Liabilitiesmentioning

confidence: 99%

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