Regulatory Information - Asset Stewardship Through effective asset stewardship we aim to optimise efficiency and ensure economic recovery and support the drive to net zero carbon by 2050, while maintaining high standards of safety and environmental management. View more
Asset Stewardship Expectations In consultation with the industry, we have developed stewardship expectations across the oil and gas lifecycle, for operators and licensees. View more
Wells - Exploration and Production The NSTA is committed to maximising the well value cycle on the UKCS through effective regulation, promotion and by using its influence with licensees, the supply chain and relevant bodies. View more
Taxation The tax regime which applies to exploration for, and production of, oil and gas in the UK and on the UK Continental Shelf (UKCS) currently comprises the following four elements, described briefly in turn below: View more
Investment allowance Date of material completion of a project described in a Field Development Plan or Field Development Plan addendum View more
Development - Exploration and production The development phase of the oil and gas life cycle covers the period after an economic discovery has been made and details the processes required to take the discovery up to, but before, the production phase. View more
Cluster area determinations The NSTA may propose the determination of an area as a “Cluster Area” in accordance with the Supplementary charge: cluster area allowance provisions in Finance Bill 2015. View more
Field determinations The Oil Taxation Act 1975 states that all fields are to be “determined” by a boundary drawn around them. A proposed determination of a field must be made before the NSTA can consent to a Field Development Plan (FDP). View more
