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Oil and Gas Decommissioning Relief Deeds

25 March 2020

Proposing MP
Jesse Norman Con
Hereford and South Herefordshire
Type
Written Ministerial Statement
Department
Treasury
View on Parliament.uk -->

At a Glance

Issue Summary

The statement addresses the progress and impact of oil and gas decommissioning relief deeds introduced in Budget 2013.

Action Requested

No specific action is requested; the government has signed 96 decommissioning relief deeds since October 2013, unlocking approximately £8.1bn of capital for investment, as reported annually to Parliament.

Key Facts

  • The government began signing decommissioning relief deeds in Budget 2013.
  • Since October 2013, 96 decommissioning relief deeds have been signed.
  • These deeds are estimated to have unlocked approximately £8.1bn of capital for investment.
  • The government commits to report annually on progress with the deeds.
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