Knowledge Centre
Introductory Information
Steps involved in buying/selling an asset on the UKCS
Please click here to access the diagram that outlines the steps involved in buying and selling UKCS assets.
Deal timing expectations
Work pulled together by the working group, which encompassed most of the deals completed on the UKCS from 2005-2008, shows that the average time for an asset / licence transfer deal is about 7 months, with most lying within the range of 3-15 months. 70% of this time is up until the Sale & Purchase Agreement is signed with a further 30% taking it to completion. The outline of several different types of deal is illustrated by clicking here.
Standard agreements
To reduce legal time and cost, Oil & Gas UK has developed a suite of industry Standard Agreements after a careful and extensive consultation with industry experts, the government, leading industry lawyers and other interested parties. These are available here.
Key issues associated with buying/selling an asset on the UKCS
Please use the menu on the left to explore the issues associated with buying and selling UKCS assets.
