Commons Sense

Hansard-based summaries and metrics

<-- Back to proposed bills

Oil and Gas Decommissioning Relief Deeds

21 March 2024

Proposing MP
Gareth Davies Con
Grantham and Bourne
Type
Written Ministerial Statement
Department
Treasury
View on Parliament.uk -->

At a Glance

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.
▸ Assessment & feedback
Summary accuracy