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
17 July 2025
US downstream sector in key state feels the pain of high costs, an environmental squeeze and the effects of broader market trends
16 July 2025
Crude quality issues are an often understated risk to energy security, highlighted by problems at a key US refinery
15 July 2025
Government consultations on the windfall tax and the exploration licence ban are positive steps, but it is unclear how long it will take for them to yield tangible outcomes
15 July 2025
A brutally honest picture about the potential role of oil and gas in 2050 should prompt policymakers to not only reflect but also change course to meet vital energy needs
