The OGA mandates collaboration and cooperation when seeking to acquire or invest in offshore licences or infrastructure
OGA takes aim at Elgin-Franklin laggards
The UK upstream regulator is unhappy at partners in the field dragging their feet on the sale of ExxonMobil’s stake
The UK’s Oil and Gas Authority (OGA) has opened an investigation into the proposed sale by ExxonMobil of its stakes in certain UK North Sea fields to Norwegian private equity-backed Neo Energy. It is specifically focused on the speed at which partners in the Elgin-Franklin complex are agreeing to the major transferring its ownership there, amid concerns it is not progressing as quickly as expected. The consent of joint venture partners is required to effect transfer of the stake. But, as negotiations that began in February 2021 have not yet reached a conclusion, the OGA has opened an investigation under its Sanction Procedure. It has previously voiced concerns on “transaction drag and the ch
Also in this section
13 March 2025
Gas will become a more important part of the energy mix longer-term raising the alarm for much-need investment as supply struggles to keep up with demand
13 March 2025
The spectre of Saudi Arabia’s 2020 market share strategy haunts a suffering OPEC+ as Trump upends the energy world
12 March 2025
Petronas-Eni eyes joint venture to prioritise key gas developments, with huge opportunities for growth in Indonesia and a steady Malaysia portfolio
12 March 2025
Bearish market sentiment and bullish long-term outlook for oil and gas consumption prevails at CERAWeek
