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Oil & Gas UK News

Oil & Gas UK welcomes the announcement that today (July 23) the government has published a consultation on a new cluster area allowance to support investment in ultra high pressure, high temperature (uHPHT) oil and gas fields. Michael Tholen, Oil & Gas UK’s economics director, said: “We welcome the announcement by HM Treasury that they have opened a formal consultation on how best to incentivise exploration and investment in the ultra high pressure, high temperature (uHPHT) opportunities on the UK Continental Shelf (UKCS).  “Experience shows, uHPHT fields are technically demanding and commercially difficult to develop, the current tax regime is...
Wednesday 23 July 2014

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