UKCS producers are investigating upping planned spend to set against their windfall tax bills
UKCS firms look at investment allowance options
Producers eye spending to offset windfall tax hit
AIM-listed independent Kistos is “assessing opportunities in the UK that would enable us to take full advantage of the investment allowances implicit in the recently introduced Energy Profits Levy (EPL)”, according to the firm’s CEO, Andrew Austin. Other companies are also investigating upping planned spend to set against their windfall tax bills. UK-listed Serica Energy is “evaluating additional candidate projects designed to increase the productivity of the Bruce hub” above its previous capex programme. Based on its current understanding of the EPL, the firm expects its planned c.£60mn 2022 light well intervention campaign at the Bruce Keith Rhum complex and its North Eigg exploration well
Also in this section
28 January 2026
The alliance looks to bolster market management credibility by bringing greater clarity and unity to output cuts and producer capacity later in 2026
23 January 2026
A strategic pivot away from Russian crude in recent weeks tees up the possibility of improved US-India trade relations
23 January 2026
The signing of a deal with a TotalEnergies-led consortium to explore for gas in a block adjoining Israel’s maritime area may breathe new life into the country’s gas ambitions
22 January 2026
As Saudi Arabia pushes mining as a new pillar of its economy, Saudi Aramco is positioning itself at the intersection of hydrocarbons, minerals and industrial policy
