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Oil and Gas Decommissioning Relief Deeds

31 March 2022

Proposing MP
Helen Whately Con
Faversham and Mid Kent
Type
Written Ministerial Statement
Department
Treasury
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At a Glance

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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