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Tier reviews

This guidance has been developed to aid industry understanding of the OGA’s Tiered Stewardship Review process, which is a key element of the Asset Stewardship Strategy.

Exploration Production
Exploration and production

We regulate the licensing of exploration and development of the UK’s offshore and onshore (England only) oil and gas resources, gas storage and unloading activities in accordance with the Strategy.

Reviews

We will continue to undertake pro-active, structured and prioritised stewardship reviews with operators and licensees based on intelligence gathered, prioritising those with the greatest impact on economic recovery and support the drive to net zero carbon by 2050.

Taxation4
Taxation

The tax regime which applies to exploration for, and production of, oil and gas in the UK and on the UK Continental Shelf (UKCS) currently comprises the following four elements, described briefly in turn below: