Summary
THE North Sea's major oil firms have agreed to hand back oil fields that have been lying fallow for two years under a new deal with the government.
At a meeting of the oil industry's PILOT taskforce last week, the companies signed up to a raft of hardline reforms to the Fallow Fields initiative, designed to speed up the development of older reserves.See the full content of this document
Extract
North Sea Deal Paves Way for Fresh Drilling
The deadline and other changes to the rules are expected to prompt new drilling activity on around a third of the assets in the North Sea that are currently lyin...
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