Barriers to Licence Trading

• Pre-emption

• Security for Abandonment Liabilities

• Technical data availability

• DTI limits on obligation wells

• Emphasis on swaps disadvantages new entrants and smaller players

PP/45/01

Data Availability : Current Status

• Wells – all raw data held by DTI, made available after 5 ½ years; token cost

• Proprietary Seismic – dispersed, but can be made available after 5 ½ years; should be cost of reproduction

• Spec seismic – available from contractor, at his price

• Interpreted data – not generally available

Data Release Proposal

• For mature areas only, North Sea & Irish Sea, release data earlier : -

• Well data – release two years after completion• Proprietary seismic – release two years following

initial processing• Spec seismic – rights to remain with contractors• Interpreted Data – all data and reports to be made

available following CoP, and the onus to be on licensees to inform DTI that they wish to withhold reports from publication