Plug and Abandonment Status on the Norwegian Continental Shelf Inclusive Tax Consequences
Article from: OGEL 4 (2015), in Taxation
The discovery of hydrocarbon resources on the Norwegian Continental Shelf (NCS) has been almost like a fairy tale for Norway the past half a century. Oil and gas has made Norway to one of the wealthiest societies in the world. Although the discovery has been outstanding for Norway, there are certain obligations we need to fulfil when exploring for hydrocarbons on the NCS. We need to clean up after ourselves. There is a "plug wave" heading for the NCS. Some say it is already here, whilst others are more pessimistic. The focus on plug and abandonment (P&A) is increasing and the ...