ROVworld Subsea Information

Darling to sweeten North Sea terms
Date: Wednesday, December 09, 2009 @ 16:11:53 EST

Darling to sweeten North Sea termsThe UK's Chancellor of the Exchequer Alistair Darling is set to relax the criteria for field allowances in a bid to lure explorers back to the UK sector of the North Sea.

Darling unveiled the move in his pre-budget report, presented to the House of Commons today.

He said that the criteria change will apply to the ultra high pressure, high temperature field allowance, saying: "These changes could support the recovery of up to 300 million additional barrels of oil and gas from the North Sea."

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