Oil and Gas Law Dissertation Help
The most important legislation governing oil and gas exploration and production of crude oil, gas, and shale gas in the UK is the Petroleum Act 1998 replaced as the Petroleum Act. The petroleum act foresees all the oil and gas exploration and production in the UK and supports the administration through which licenses are granted by the OGA (and by the Welsh Ministers, for onshore oil and gas in Wales, and the Scottish Ministers, for onshore oil and gas in Scotland), to persons to seek and bore for and then get petroleum. Those with licenses are given the right to do a survey and develop a specific geographical area.
Regulation
The Department for Business Energy and Industry Strategy (BIES) is accountable for setting energy and climate change alleviation policies for initiating the framework to accomplish the policy set-ups in those areas. The OGA was officially established as a sovereign regulator and a state-owned company in 2016, with the Secretary of State Bank for Business, Energy, and Industrial Strategy as the only shareholders. The Secretary of State is eventually answerable to Parliament for the OGA. The OGA is responsible for licensing and regulating the oil and gas sector including:
Oil and gas licensing
Oil and gas exploration and production
Oil and gas field along with wells
Oil and gas infrastructure
Carbon storage licensing
Treaties
The UK has different treaties like the Energy Charter Treaty, which manages energy-related issues and matters, and the Geneva Convention on the Continent Shelf and UN Convention on the law of the sea has settled down the limits of the state's territorial sea. Moreover, the UK has earned foreign arbitral awards, such as the UN Convention on the Recognition and Enforcement of Foreign Arbitral Awards and Geneva Convention Awards, etc
Licensing
The Petroleum Act vests all the rights and allows OGA to grant licenses to the persons in search and bore for and get. The exploration and production of petroleum in the UK can only be accepted under the terms of licenses described by the Petroleum Act. The company willing to take part in the UK's oil and gas industry needs to take permission for a license to work in mutual consent.
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