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HMRC internal manual

VAT Land and Property

From
HM Revenue & Customs
Updated
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Supply: place of supply and liability of exploration and production licences in the UK oil industry: definition of exploration and production licence

The holder of an exploration licence has the right in common with other holders of similar licences to search for petroleum in the non-production areas. The holder of an exploration licence has no right to obtain petroleum.

In contrast, the holder of a production licence has the exclusive right to take any or all of the petroleum from a defined area.