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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 continuing importance of UKCS oil and gas production.

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: 

The OGA Strategy (“Strategy”) is clear that operators and licensees should develop good Environmental, Social and Governance (“ESG”) practices in their plans and daily operations.

The Consents and Authorisations team is part of the Regulation directorate and prepare, authorise, and issue formal consents and authorisations to enable oil and gas fields to be developed and hydrocarbons produced. 

The Field Development Plan (FDP) is the support document for the NSTA’s development and production authorisations and should provide a brief description of the technical information on which the development is based.