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6 Pages

UK Government provides certainty on decommissioning tax relief

UK Government provides certainty on decommissioning tax relief

Report summary

Budget 2013 reiterated the UK Government's commitment to create certainty on the tax relief available on decommissioning spend. Before the end of 2013, it will sign the first contracts with industry to guarantee the rate of tax relief companies will receive. These guarantees are positive for the UKCS.

What's included?

This report includes 2 file(s)

  • UK Government provides certainty on decommissioning tax relief PDF - 474.06 KB 6 Pages, 0 Tables, 4 Figures
  • UK Government provides certainty on decommissioning tax relief.xls XLS - 79.50 KB


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  • Certainty on tax relief for decommissioning
    • Cost of decommissioning
    • Impact of tax relief certainty
    • Increased investment
    • Improvement in mature asset market
    • Changing ownership reinvigorates assets
  • But, challenges remain
    • Increasing costs
    • Increasing regulation
  • Company perspective
    • Highest decommissioning spend means majors will receive most tax relief
    • But others with large, mature portfolios also benefit from the tax relief
    • Appendix - Decommissioning Security

In this report there are 4 tables or charts, including:

  • Certainty on tax relief for decommissioning
    • Decommissioning expenditure by year
    • Annual production pre and post deal on a UK field
  • But, challenges remain
    • Estimated decommissioning spend by year
  • Company perspective
    • Future UK decommissioning tax relief (top 20 companies)
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