OT05615 - 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: (1) the nature of the oil from the originating fields feeding into the system, including metering locations and standards, (2) the facilities (i.e. transportation, treatment, storage) by which the oil is mixed, (3) the points at which oil or blended oil is extracted from the system, including metering locations and standards; and (4) 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.