Offshore Decommissioning Liability: "Hotel California" and cross-contamination risks27 Jun 2019 | Client publication/article
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.
Hywel Davies (partner), Oliver Moir (associate)
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