27 Jun 2019
This briefing contains our observations on offshore decommissioning liability, including “Hotel California” risk for sellers and cross-contamination issues for buyers.
The trend of oil & gas majors and larger independents looking to exit or reduce their exposure to the North Sea has seen buyers and sellers alike grappling with the decommissioning liabilities associated with late-life assets within these portfolios and the wide-ranging reach of the Petroleum Act 1998 (the “Act”).
Read our observations, including “Hotel California” risk for sellers and cross-contamination issues for buyers.
This material is provided for general information only. It does not constitute legal or other professional advice.
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