Offshore Decommissioning Liability: "Hotel California" and cross-contamination risks

27 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.

Contacts

Hywel Davies (partner), Oliver Moir (associate)


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