Neil MacLeod Director Deloitte Aberdeen and Roman Webber Director Deloitte London examine the taxation aspects of decommissioning a key issue for both the oil industry and HMRC
Oil and gas production has been an important feature of the UK economy for more than 30 years and will continue to be so for a considerable time to come. The optimistic scenario is that we have so far exploited only half of the hydrocarbons present in the UK Continental Shelf.
Nonetheless the time will come when significant numbers of oil and gas fields reach the end of their economic lives and are closed down. Unless there are new hydrocarbon discoveries close by we can expect decommissioning of the platforms and other infrastructure that relate to those fields....
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Neil MacLeod Director Deloitte Aberdeen and Roman Webber Director Deloitte London examine the taxation aspects of decommissioning a key issue for both the oil industry and HMRC
Oil and gas production has been an important feature of the UK economy for more than 30 years and will continue to be so for a considerable time to come. The optimistic scenario is that we have so far exploited only half of the hydrocarbons present in the UK Continental Shelf.
Nonetheless the time will come when significant numbers of oil and gas fields reach the end of their economic lives and are closed down. Unless there are new hydrocarbon discoveries close by we can expect decommissioning of the platforms and other infrastructure that relate to those fields....
If you or your firm subscribes to Taxjournal.com, please click the login box below:
If you do not subscribe but are a registered user, please enter your details in the following boxes:
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