Upstream Oil and Gas
Although upstream oil and gas production in the UK has declined from it peak of previous years and imports of gas have increased dramatically (whether in the form of LNG or import via interconnectors from the Continent), the UK Continental Shelf remains an important source of oil and gas to meet our continuing need for energy.
Members of our Renewables, Energy & Resources Group have extensive experience in this sector, including in-house experience with oil and gas exploration and production companies, and have advised on a wide range of issues, including:
- Licences: Advising on terms of existing licences for UKCS blocks, renewal / extension / surrender of those licences and participation on applications for new licences.
- Operating agreements: Advising both operators and minority participants on terms of Join and Unit Operating Agreements, including advice regarding budget processes, sole risk projects and major capital investment.
- Pipeline and terminal arrangements: Advising operators of terminals and pipeline systems and users of pipeline systems and terminals on transportation, processing and operating services arrangements. In addition, members of the team have advised on Floating Production Storage and Offtake (FPSO) contracts.
- Oil and gas sales agreements: Advising on a range of oil and gas sales agreements, on both a long-term and spot basis and including joint and individual sales.
EPC contracts: Advising on a range of contracts, from sub-sea completions and tie-backs to topsides fabrication and installation.
- Logistics and operations: Advising on the entire range of contracts and services required for upstream operations, including helicopter and port services, drilling operations and rigs, equipment supply and rental, and subsea and topsides inspection services.
- Acquisitions and disposals: Advising on the sale and purchase of minority and majority interests, including novation of licences and agreements and obtaining relevant consents to the transaction.