Romanian translation. This page is translated from the canonical English version for general information. UK legal terms do not always translate exactly — check the English source for legal decisions and seek professional advice for important matters. The English page is authoritative.
Rezumat
The Petroleum Act 1998 consolidated legislation on oil and gas exploration and production in the UK Continental Shelf. It vests ownership of petroleum in the Crown and establishes the licensing regime administered by the North Sea Transition Authority (formerly Oil and Gas Authority). It also provides for decommissioning obligations.
Puncte cheie
- Vests all petroleum in strata in the Crown (s.2)
- Secretary of State may grant exploration and production licences (s.3)
- Model clauses incorporated into licences (schedule terms)
- Establishes decommissioning obligations on licensees and owners (Part IV)
- Section 29 notices require decommissioning programmes
- Joint and several liability for decommissioning costs
Părți și secțiuni
Istoricul amendamentelor
2016 — Energy Act 2016
Created the Oil and Gas Authority (now NSTA) as an independent regulator to maximise economic recovery of UK petroleum.