Relinquishment Reports Submitted after 1 January 2021 are Now Available

Source: www.gulfoilandgas.com 7/1/2021, Location: Europe

A new regulation for status reports (also called relinquishment reports) came into force 1 January 2021, with new associated guidelines.

What's new is that the duty of secrecy for interpreted data in status reports lapses when the license is relinquished, and that status reports can then be released.

The regulatory amendment has retroactive effect for reports submitted prior to 1 January. However, a deadline of 1 July 2021 has been set for applications for permission to withhold parts of the reports that may contain trade secrets. Typical trade secrets will be strategies, work techniques, analyses, financial calculations and forecasts.

Share knowledge and data
"The Norwegian shelf is becoming increasingly mature, and many of the same areas have been explored in multiple previous production licenses. In order to increase the petroleum geological knowledge of the shelf, as well as avoid duplicating efforts, it's important to share as much knowledge and data as possible.

"We expect this to result in more cost-effective exploration," says Kjersti Dahle Grov, who is the Leader of Technology and coexistence.

The Norwegian Petroleum Directorate has ensured that the industry can download reports submitted after 1 January.

The new guidelines for the status reports require the companies to submit shape files with outlines of any discoveries, prospects and leads in the production license. There are also multiple requirements for figures and prospect data.

Some of the reports are deficient in this regard, and work is under way to obtain this material. Here are the updated guidelines for surrender, lapse or expiration of a production license.

"All the status reports will be available on our Fact Pages when we finish assessing any applications to withhold information in reports submitted before 1 January. This will take place after the application deadline for APA 2021," says Dahle Grov.


United Kingdom >>  7/20/2022 - AIM-listed UK Oil & Gas (UKOG) has announced operational updates in respect of its key Turkiye and Portland Hydrogen/Energy Hub projects, together wit...
United States >>  7/20/2022 - The OBX-750E seabed ocean bottom wireless seismic data gathering nodes will be rented by SAExploration, a global provider of marine geophysical servic...

Norway >>  7/15/2022 - PGS and deepC Store Limited (“dCS”) have entered into a Subscription Agreement (“Agreement”) for dCS to issue shares to PGS in exchange for PGS provid...
Brazil >>  7/12/2022 - CGG has released a new GeoWells Brazil database, an expertly curated and re-interpreted digital data set of all the relevant geological and engineerin...




Gulf Oil and Gas
Copyright © 2021 Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.