PRT: commingling - information required under FA1987\S63
Given the variance in allocation systems LB Oil & Gas has not produced a standard form for submission of the prescribed details of an allocation system. However the original note of 15 July, referred to above, details the major requirements of a notice under the legislation and these are reproduced below:-
- The name of each of the originating fields and the participators therein.
- A broad description of:
- the nature of the oil from the originating fields feeding into the system, including metering locations and standards,
- the facilities (i.e. transportation, treatment, storage) by which the oil is mixed
- the points at which oil or blended oil is extracted from the system, including metering locations and standards; and
- the nature of the oil or blended oil extracted at those various points
- A copy of the transportation, processing and associated tariff agreements which regulate the movement and determine ownership of the oil.
- A full description of the agreed method of allocation used showing the basis on which blended oil is allocated between the participators in the originating fields as a whole, and as between each participator in each of those fields, as his share of oil won, and won and saved, from the field.
- Details of any provisions for change to the allocation methodology and in what circumstances these would be made.
- Details of how, when and by whom the allocation method is audited on behalf of the participators.