Norway Oil Exploration Refunds Are Not State Aid -ESA

Wednesday, March 20, 2019

Norway's regulations allowing oil and gas companies to claim refunds for exploration spending do not constitute state aid, the European Free Trade Association Surveillance Authority (ESA) said on Wednesday.

"Having scrutinized it on the basis of a comprehensive complaint, ESA is satisfied that this tax rule does not entail state aid," ESA President Bente Angell-Hansen said in an emailed statement.

The case was brought to ESA by Bellona, an environmental non-profit organization seeking to block oil firms' access to cash refunds, which have fueled a boom in Norway's petroleum exploration.

"ESA has now concluded that the measure is not selective. The measure is available to all companies on an equal footing. According to EEA (European Economic Area) state aid rules, a measure that is not selective does not constitute state aid," the agency said.

The EEA consists of European Union member countries in addition to EU outsiders Norway, Iceland and Liechtenstein.


(Reporting by Nerijus Adomaitis, editing by Terje Solsvik and Louise Heavens)

Categories: Legal Finance Energy Offshore Energy Europe Government Regulations

Related Stories

Prolonging Wellhead Fatigue Life

Mariner Field Comes On Stream

SeaBird Faces Delays in Seismic Surveys

Deepwater ... in the North Sea?

Sputnik Partners Find Light Oil

Subsea Innovation Scores TechnipFMC Contract

New Money, Finds & Field Starts

There’s Something Happening off Newfoundland

US Gulf Lease Sale Pulls in $159.4 Million

TechnipFMC’s iEPCI

Current News

FMS Wins BP Mooring Gig in the North Sea

Topaz Revenue Climbs

TechnipFMC’s iEPCI

Wild Well Control Adds 10K Capping Stack

ADNOC Dishes $3.6 Billion in Contracts

Zohr Gas Field Output Rises to 2.7 bcfd

Rever Concludes North Sea Campaigns

Chevron Invests in Well Conveyor

Forum Sells Its Stake in Ashtead Technology

US Gulf Lease Sale Pulls in $159.4 Million

Subscribe for OE Digital E‑News

OE Digital E-News is the subsea industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week