The below Parliamentary question was asked by Alan Whitehead on 2016-04-26.
To ask the Secretary of State for Energy and Climate Change, what guidance she plans to provide to the oil and gas industry on the definition of satisfactory commercial return used in her Department’s report, Maximising economic recovery strategy for the UK, published in January 2016.
The published MER UK Strategy included, in its annex, a definition of “satisfactory expected commercial return”. Any guidance for industry would be an Oil and Gas Authority matter and they will work with industry to support effective implementation of the MER UK Strategy. The Secretary of State does not intend to issue further guidance.