Commons Sense

House of Commons · Written Ministerial Statement

Oil and Gas Decommissioning Relief Deeds

31 March 2022 · Treasury

Proposed by Helen Whately Con Faversham and Mid Kent

Energy

Summarised by AI from the official record, so it can contain mistakes.

View on Parliament.uk

At a glance

Key points

  • The government has entered into 101 decommissioning relief deeds since October 2013.
  • These deeds have unlocked approximately 8.3bn in capital investment.
  • A report on the progress for financial year 2020-21 is provided.

Issue summary

The statement discusses progress and impact of decommissioning relief deeds for oil and gas companies.

Action requested

The government has entered into 101 decommissioning relief deeds since October 2013, unlocking approximately £8.3bn in capital investment. The report on the progress for financial year 2020-21 is provided.

Key facts

  • Government announced beginning of signing decommissioning relief deeds at Budget 2013.
  • Since October 2013, government has entered into 101 decommissioning relief deeds.
  • Offshore Energies UK estimates these deeds have unlocked approximately £8.3bn in capital investment.
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