How to relinquish a licence How to relinquish a petroleum licence or surrender acreage; notice periods. View more
Operatorship 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: View more
PEARS The Petroleum E-business Assignments and Relinquishment System (PEARS) is the NSTA’s portal-based licence administration system. View more
Security over licences It is common practice for banks lending money to companies to demand a charge on the company’s assets as a form of collateral. View more
Overview - Licensing and Consents Licences fall into several categories. The principal distinctions are between onshore licences and offshore licences, with a further distinction between exploration licences. View more
Licensing regime The Petroleum Act 1998 vests all rights to the nation’s petroleum resources in the Crown, but the North Sea Transition Authority can grant licences that confer exclusive rights to ‘search and bore for and get’ petroleum. View more
