I’ve been doing some work on end of life projects recently. There is another important cost to consider from a govt perspective. Decommissioning subsidies would be bought forward and go through the roof if they choked off E&P development. That will more than offset the funds raised from the EPL.
On reflection, I am more bullish on a positive outcome in the short term. Tories could have a field day with the Labour costings if they actually pulled their finger out!
I’ve been doing some work on end of life projects recently....
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