Webinar | UK budget implications for the North Sea

Following a fiscal consultation earlier this year, the Chancellor is expected to make two key announcements which will have major implications for the North Sea:

• The windfall mechanism that will replace the energy profits levy (EPL)
• The timing of its introduction

Operators have lobbied hard to remove the EPL and install its replacement well before the current sunset date of March 2030 to avert an investment cliff edge. But with a growing fiscal deficit and the expectation of tax rises across the economy, their chances look slim. In this live webinar, our experts will discuss:
 

• What exactly the Chancellor has announced
• The pros and cons of the windfall mechanism to replace the EPL
• How the EPL sunset will impact investment and cash-flows in this parliamentary term and beyond
• What does a post-EPL North Sea look like now?
   

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