Sustainability Strategy Commitments

UKOOA Sustainability Strategy 2002 - First Report 1. Economic Sustainability 1.4 Stimulating business activity   Commitment No. 16 - Web site support for asset trading "We are supporting Licence Information for Trading (LIFT), an Internet-based trading system for those companies wishing to offer or acquire assets on the UKCS." Progress to date : achievements and difficulties encountered LIFT was launched in 1999 and is marketed worldwide through IndigoPool.com. It has generated interest in trading certain assets where, otherwise, there would have been little opportunity for such activity. The recent work on fallow acreage and fallow discoveries within PILOT is resulting in more potential trading through LIFT and it is planned, subject to DTI approval, that such acreage and discoveries will be released on LIFT quarterly. Some improvements to the system are in hand to make it easier to use. Website References LIFT Website : www.uklift.co.uk Next commitment [17. Licence trading event (farm-ins)] Previous commitment [15. Decommissioning: new technologies] Commitment listing

Sustainability Strategy Commitments