The North Sea Transition Authority (NSTA) has published the guidance document ‘Innovate Seaward Production Licences: Guidance on Phase Transition in the Initial Term’.
The Innovate Seaward Production Licence (‘Innovate Licence’) structure was introduced in the 29th Offshore Licensing Round but only fully implemented in the 30th Offshore Licensing Round. Licences have been awarded in this format since.
This document provides general guidance on the matters to be considered in relation to the continuation – or, in this guidance, ‘transition’ – of the Innovate Licence through the Initial Term Phases.
Source: NSTA.