Part 13: Offshore Wind Electricity Generation, Oil and Gas Chapter 2: Oil and Gas Section 300: Model clauses of petroleum licences
This section provides that all model clauses regarding the change of control of a Licensee in possession of any current and future Seaward Petroleum Production licences and all Landward Petroleum Production licences (but not Landward or Seaward Exploration licences) will be amended to include new ex ante (before the event) powers for the Oil and Gas Authority (OGA). This is to ensure that the governance, technical and financial capability of a Licensee in possession of a Petroleum Production licence is not undermined by an undesirable change of control and replaces the OGA’s existing ex-post (after the event) powers to intervene after the change of control of a Licensee.