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
30 July 2025
Owing to social, political and geographical factors, Canadian LNG projects are a complex proposition versus competing facilities on the US Gulf of Mexico.
29 July 2025
The EU’s Russia sanctions could have far-reaching implications for India’s Vadinar-based refinery
29 July 2025
There is a good strategic case for China to sign a deal for gas supplies via the proposed Power of Siberia 2 pipeline, but Beijing’s concerns over over-dependency on a single supplier and desire to drive down the price make it relatively unlikely that a contract will be finalised this year.
29 July 2025
EU industry and politicians are pushing back against the bloc’s green agenda. Meanwhile, Brussels’ transatlantic trade deal with Washington could consolidate US energy dominance.