Energiewirtschaft - Öl und Gas

Aktuelle eAlerts

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  27.09.2023

  United Kingdom

  Long-awaited field development approval for Rosebank field

  The owners of the Rosebank field have today obtained regulatory consent for the development of the field.Rosebank BackgroundThe Rosebank field was discovered in 2004 and is the UK’s largest undeveloped discovered oilfield. The field is located 130 kilometres west of the Shetland Islands.The field’s development has been delayed several times with both technical and economic viability cited as one of the key reasons. In 2013, Chevron (the operator at the time) stated that the field did not offer “an economic value proposition that justifies proceeding with an investment of this...

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  05.09.2023

  Oman

  The New Oman Social Protection Fund Law - Key Changes

  The Sultanate of Oman as a welfare state has for long operated under the old Public Authority for Social Insurance (PASI) Law (Royal Decree 72/9). Recently however, Oman has enacted the novel Social Protection Fund Law (SPFL) (Royal Decree 52/2023) in an attempt to enhance its social welfare framework by creating a single and unified social protection fund that improves financing and provides a wide range of benefits to workers and their families. This article provides an overview of some of the key aspects of the new law and compares it with its repealed predecessor, by highlighting the key impacts...

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  01.09.2023

  Ungarn

  Summary on the employment of guest workers in Hungary

  On 1 November 2023, Act L of 2023 on the Employment of Guest Workers in Hungary will enter into force, introducing a new type of residence permit (i.e. the guest worker residence permit). The government and ministerial decrees for the detailed rules of the Act have not yet been published, but the following is a summary of what is known about the legislation.Who can apply for a guest worker residence permit?Citizens of countries that are not neighbours of Hungary and located outside the European Economic Area. (These countries will be listed in the relevant ministerial decree). The permit can be...

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  30.08.2023

  United Kingdom

  OEUK Decommissioning Security Agreements – Ap­pr­oval/Ob­jec­tion of Proposed Plan

  As discussed in our previous Law Now (see our OEUK Decommissioning Security Agreements – the Proposed Plan Law Now here), Offshore Energies UK (OEUK) has published two template Decommissioning Security Agreements (DSAs); one for use in relation to PRT (Petroleum Revenue Tax) paying fields (the “PRT DSA”) and another for all other circumstances (the “non-PRT DSA”) – other than in relation to their treatment of PRT, these are in identical terms, and are collectively referred to in this article as the OEUK DSA for ease of reference. These template DSAs provide a...

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  30.08.2023

  United Kingdom

  Hydrogen production – updated LCHA terms published

  On 9 August 2023, the Department for Energy Security & Net Zero (“DESNZ”) published an updated full-form front end agreement (the “Front End Agreement”) and standard terms and conditions (the “Standard Terms and Conditions”) for the Low Carbon Hydrogen Agreement (together the “LCHA”).This follows on from the draft that was published by DESNZ on 19 May 2023. This article provides commentary on the key changes in this latest draft, and summarises the position in relation to key terms of the LCHA.For further commentary on the latest developments...

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  03.08.2023

  United Kingdom

  ClientEarth’s derivative claim against directors for alleged breaches of duties to address climate change risk has been dismissed (again)

  IntroductionThe High Court has reaffirmed its earlier judgment and dismissed ClientEarth’s derivative claim brought against Shell plc (“Shell”) and its Board of Directors. ClientEarth claimed that the directors had breached statutory directors’ duties and failed to comply with an order made by the Hague District Court on 26 May 2021, which imposed a 45% emissions reduction obligation on Shell to be achieved by 2030 (the “Dutch Order”).BackgroundClientEarth is a non-profit environmental law organisation. ClientEarth currently holds 27 shares in Shell and, on 9...

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