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Barriers to Licence Trading

PP/45/01. Barriers to Licence Trading. Pre-emption Security for Abandonment Liabilities Technical data availability DTI limits on obligation wells Emphasis on swaps disadvantages new entrants and smaller players. Data Availability : Current Status.

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Barriers to Licence Trading

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  1. PP/45/01 Barriers to Licence Trading • Pre-emption • Security for Abandonment Liabilities • Technical data availability • DTI limits on obligation wells • Emphasis on swaps disadvantages new entrants and smaller players

  2. Data Availability : Current Status • Wells – all raw data held by DTI, made available after 5 ½ years; token cost • Proprietary Seismic – dispersed, but can be made available after 5 ½ years; should be cost of reproduction • Spec seismic – available from contractor, at his price • Interpreted data – not generally available

  3. Data Release Proposal • For mature areas only, North Sea & Irish Sea, release data earlier : - • Well data – release two years after completion • Proprietary seismic – release two years following initial processing • Spec seismic – rights to remain with contractors • Interpreted Data – all data and reports to be made available following CoP, and the onus to be on licensees to inform DTI that they wish to withhold reports from publication

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