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Helping to simplify commercial and legal practices

Published:  15 December, 2016

Oil.jpgA rising number of UK operator companies are said to be demonstrating their commitment to working smarter by signing up to two initiatives designed to reduce the legal and commercial complexity of offshore operations. As a result of collaboration between UK operators, supported by Oil & Gas UK and the Oil and Gas Authority (OGA), increasing take up of new Standard Study Agreement and an updated Commercial Code of Practice should help the sector’s drive to improve the efficiency of businesses across the UK Continental Shelf (UKCS).

The increasing level of co-operation suggests that the work of the industry’s Efficiency Task Force (ETF), as a catalyst to make the UKCS more resilient and globally competitive, is taking effect. More companies are rallying behind the ETF Industry Behaviour Charter which aims to drive the cultural change needed to secure a sustainable future for the UK North Sea. This trend has also been observed in a recent survey by Oil & Gas UK and Deloitte which revealed both operators and suppliers reporting higher levels of successful collaborations than the previous year.

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