Commons Sense

House of Commons · Written Ministerial Statement

Oil and Gas Decommissioning Relief Deeds

21 March 2024 · Treasury

Proposed by Gareth Davies Con Grantham and Bourne

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 signed 108 decommissioning relief deeds since October 2013.
  • These deeds have unlocked approximately 11.8bn of capital for reinvestment.
  • The government commits to annual reporting on the progress of these deeds.

Issue summary

The statement addresses progress and outcomes related to oil and gas decommissioning relief deeds.

Action requested

The government reports that it has signed 108 decommissioning relief deeds since October 2013, unlocking approximately £11.8bn of capital for reinvestment, and commits to annual reporting on the progress of these deeds.

Key facts

  • The government began signing decommissioning relief deeds in Budget 2013.
  • Since October 2013, 108 decommissioning relief deeds have been entered into.
  • Offshore Energies UK estimate that these deeds have unlocked approximately £11.8bn of capital for reinvestment.
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