Research into Long-Term Liabilities in the Onshore Oil and Gas Industry

Descriptions

Description Please note that this replacement advertisement is for a process that is showing closed and so is being re-activated with a revised tender closing date. The overall aim of this research project is to inform the system governing long term liabilities in the onshore oil and gas industry. It is expected that any long-term risks in respect of abandoned onshore oil and gas wells are likely to be environmental risks relating specifically to operations. The project has two primary goals: •To research into the scope of existing insurance products in the oil and gas and other industries, and to inform the development of the necessary elements / framework to ensure that operators have access to the best instruments for funding and managing their long-term liabilities. •To research and inform DECC’s support for work by industry to develop an effective industry scheme for liabilities (including where a licensee is insolvent). And, building on examples from other industries or jurisdictions, indicate how Government could interact with any such scheme.