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