Date of material completion of a project described in a Field Development Plan or Field Development Plan addendum
For the purposes of the investment allowance introduced by Finance Act 2015, the Secretary of State may determine a day on which a project was materially completed.
The NSTA publishes lists of projects which it understands to be materially complete (PDF). The projects are listed separately for new fields which qualified for a field allowance and for incremental projects which qualified for a “brownfield allowance” (i.e. an allowance as an additionally-developed oil field). For all projects materially complete by 1 April 2015, that date will be determined as 1 April 2015.
The operator of, or any licensee with an interest in, any field with a project that they think is materially complete but not so shown on these lists should advise Mike Earp (details as below) as soon as possible, providing a rationale for that view. The lists will be kept under review and updated from time to time.
Contact us
Mike Earp
Sanctuary Buildings
20 Great Smith Street
London
SW1P 3BT
Email: mike.earp@nstauthority.co.uk
Tel: 0300 067 1604 / 07785 692644