October 16, 2015

£250.00 exc. VAT

Industry Model Form Decommissioning Security Agreements (October 2015) (DSA):

This is the current edition of the industry model agreement (executed as a deed) to provide security for decommissioning liabilities of oil and gas field developments. Two versions are available –for PRT-paying fields and for Non-PRT paying fields (identical in terms but the PRT version contains some additional PRT-specific provisions).

The DSAs are consistent with and link with the standard industry Joint Operating Agreement (JOA). They identify the liabilities of the parties and how these should be secured against default. Developed for all parties to a field development, including the Secretary of State, they can also be used for bilateral arrangements. They link with the ‘Decommissioning Cost Estimation Guideline’ which is available on this website. Both versions reflect the introduction of Decommissioning Relief Deeds (“DRDs”) by the UK Government in September 2013.

Guidance to Industry on Decommissioning Relief Deeds (September 2013) (DRD):

This provides guidance on the purpose, scope, intention and application of the DRD. Comments are provided on the key aspects of the DRD with cross-references to relevant clauses where appropriate. A copy of the DRD, and the guidance notes about how to apply for a DRD can be found on the UK Government’s website at: https://www.gov.uk/government/consultations/decommissioning-relief-deeds-increasing-tax-certainty-for-oil-and-gas-investment-in-the-uk-continental-shelf.

DSA Guidance Notes (March 2009):
This comprehensive guide provides the background to the DSA and advises on different options available. The expert views of the broad range of companies involved in generating the model form DSA in 2009 are distilled into this document. As well as a diverse group of operating companies, this includes the Law Debenture Trust and HMRC. These Guidance Notes remain applicable to both versions of the DSA.  More detailed guidance on the “Post-Tax” related provisions was published in October 2015 – see below.

Guidance Notes on revised Industry Model Form DSA (October2015):
These were produced to assist in understanding the amendments made to the industry model form DSA to take account of the introduction of DRDs. These notes relate to both versions of the DSA, and are supplemental to the 2009 Notes referred to above (which remain applicable).

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