Striking a Balance Index

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1.4 Stimulating Business Activity Progress to date: achievements and difficulties encountered Clarifying business opportunities through Common Data Access Oil and gas companies have always sought to make the best of their portfolios by rationalising their investments, but the complexity of some of the field partnerships has tended to make this difficult. Setting up Common Data Access Ltd (CDA) in 1995 provided a library of data to help start unlocking new business opportunities. New UKCS operators Increasingly mature fields and acreage have been sold to operators new to the UKCS and this has stimulated new interest and activity prolonging the productive life of a number of mature fields. Sustainable Development Action Plan Web-site support for asset trading We are supporting Licence Information for Trading (LIFT), an Internet-based trading system for those companies wishing to offer or acquire assets on the UKCS. Licence trading event (farm-ins) On the back of LIFT and with the support of DTI and PILOT, we have launched a mini 'virtual' licence round in order to stimulate interest and increase activity on the UKCS. This LIFT-inspired Farm-in Event (LIFE) streamlines access for new entrants and start-ups and allows partner re-alignment. Focusing attention on exploration should allow identification of cost-effective, multi-well programmes and clusters with prospects. On-line data source for geo-scientific information on the UKCS Digital Energy Atlas and Library (DEAL) is a new website acting as a virtual shop window providing public access to a comprehensive library of basic geo-scientific information on the UKCS. DEAL has been created by UKOOA, CDA and the British Geological Survey.