Regulations governing the retention of petroleum-related information and samples were laid in parliament on 24 April 2018, by the Department for Business, Energy and Industrial Strategy (BEIS).
The “Retention of Information and Samples Regulations 2018” fulfil provisions in The Energy Act 2016 to support the maximum economic recovery of petroleum through greater access to timely and transparent data, necessary for a competitive market.
The regulations will safeguard the long-term curation of important national resources in preserving vital information and samples for future use. The intention is to make the retention process simpler and clearer for industry to follow and help reduce the cost burden involved.
The Oil and Gas Authority (OGA) consultation can be found here.