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The NSTA has day-to-day operational independence from the The Department for Energy Security and Net Zero (DESNZ - previously known as the Department for Business, Energy and Industrial Strategy (BEIS)) and undertakes its activities in accordance with all applicable laws and regulations

The Petroleum E-business Assignments and Relinquishment System (PEARS) is the NSTA’s portal-based licence administration system.

It is common practice for banks lending money to companies to demand a charge on the company’s assets as a form of collateral.

The model clauses do not impose any requirement for approval of a change of control of a Licensee, for example, a corporate takeover, but they do grant NSTA the power to require a further change of control, and failing that a power of revocation.

The licence model clauses oblige the licensee to nominate an entity that has responsibility for organising or supervising all or any of the operations of searching or boring for or getting petroleum in pursuance of the licence, namely: 

We run a competitive licensing system and applications may only be made in accordance with approved procedures.