UKCS producers are investigating upping planned spend to set against their windfall tax bills
UKCS firms look at investment allowance options
Producers eye spending to offset windfall tax hit
AIM-listed independent Kistos is “assessing opportunities in the UK that would enable us to take full advantage of the investment allowances implicit in the recently introduced Energy Profits Levy (EPL)”, according to the firm’s CEO, Andrew Austin. Other companies are also investigating upping planned spend to set against their windfall tax bills. UK-listed Serica Energy is “evaluating additional candidate projects designed to increase the productivity of the Bruce hub” above its previous capex programme. Based on its current understanding of the EPL, the firm expects its planned c.£60mn 2022 light well intervention campaign at the Bruce Keith Rhum complex and its North Eigg exploration well
Also in this section
16 January 2026
The country’s global energy importance and domestic political fate are interlocked, highlighting its outsized oil and gas powers, and the heightened fallout risk
16 January 2026
The global maritime oil transport sector enters 2026 facing a rare convergence of crude oversupply, record newbuild deliveries and the potential easing of several geopolitical disruptions that have shaped trade flows since 2022
15 January 2026
Rebuilding industry, energy dominance and lower energy costs are key goals that remain at odds in 2026
14 January 2026
Chavez’s socialist reforms boosted state control but pushed knowledge and capital out of the sector, opening the way for the US shale revolution
