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

Technip Energies Gets FEED Job for Inpex’ Abadi LNG Project in Indonesia

Subsea7 Secures Work at Black Sea Field off Türkiye

Seatrium Signs FLNG Vessel Upgrade Deal for Golar LNG

PXGEO Nets First Seismic Survey off Malaysia

SPE Offshore Europe 2025 set to drive transformational change for the energy sector

Seatrium Engages Axess Group to Clear FPSOs for Brazil Deployment

Seatrium Makes First Turnkey FPSO Delivery to Petrobras

Fugro Expands Geotechnical Testing Capabilities in Indonesia

UK Firm Secures Exploration Extension for Two Blocks off Vietnam

EnQuest Bags Two Production Sharing Contracts off Indonesia

Current News

Technip Energies Gets FEED Job for Inpex’ Abadi LNG Project in Indonesia

Keppel, Seatrium in $53M Arbitration Case Over Brazil Corruption Scheme

Subsea7 Secures Work at Black Sea Field off Türkiye

CIP, Petrovietnam Team Up for Offshore Wind Project in Vietnam

Seatrium Signs FLNG Vessel Upgrade Deal for Golar LNG

EnQuest Enters Indonesia with Operatorship PSCs for Two Exploration Blocks

PXGEO Nets First Seismic Survey off Malaysia

SPE Offshore Europe 2025 set to drive transformational change for the energy sector

Shipbuilder Delivers Fast Crew Boat Pair to Aesen

Norwegian Oil Investment Will Peak in '25

Subscribe for AOG Digital E‑News

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

https://accounts.newwavemedia.com