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HMRC internal manual

Oil Taxation Manual

PRT: Foreign Fields - Abolition of PRT - Foreign and Transmedian Fields

In line with the treatment of post 16 March 1993 UK sector fields, future ‘foreign fields’ are also ‘non-taxable’ (see OT03515 and OT13550).

Transmedian Fields are treated as wholly ‘non-taxable’ where the UK part is non-taxable. Similarly, if that part of the field on the UK side of the boundary is a taxable field, then the foreign part of the field shall be treated as if it were a taxable field for tariffing and disposals. (OTA83\S12(3) amended by FA93\S193(4))