Maximising Economic Recovery | Globe Law and Business specialises in producing practical, topical titles for international legal and business professionals

<!DOCTYPE html> <html lang="en-GB" prefix="og: http://ogp.me/ns#"> <head> <meta charset="utf-8">  <script>(function(w,d,s,l,i){w[l]=w[l]||[];w[l].push({'gtm.start': new Date().getTime(),event:'gtm.js'});var f=d.getElementsByTagName(s)[0], j=d.createElement(s),dl=l!='dataLayer'?'&l='+l:'';j.async=true;j.src= 'https://www.googletagmanager.com/gtm.js?id='+i+dl;f.parentNode.insertBefore(j,f); })(window,document,'script','dataLayer','GTM-PV9J9FJZ');</script>  <title>Maximising Economic Recovery | Globe Law and Business specialises in producing practical, topical titles for international legal and business professionals</title> <meta name="description" content="Practical, topical titles for international legal and business professionals"/> <meta name="keywords" content=""/> <meta name="MobileOptimized" content="auto"/> <meta http-equiv="X-UA-Compatible" content="IE=edge"> <meta name="viewport" content="width=device-width, initial-scale=1"> <meta property="og:title" content="Maximising Economic Recovery"/> <meta property="og:description" content="Maximising Economic Recovery&nbsp;is not a complete guide to oil and gas industry regulation in the UK; instead, it is specific to the MER UK regime. It describes the legislative changes that introduced the regime, the nature of the NSTA, and how it uses &lsquo;soft power&rsquo; to achieve many of its aims. The title&nbsp;also describes the regulatory tools at the NSTA&rsquo;s disposal including the nature of the OGA Strategy and how this can be enforced through sanctions, the right to attend a wide range of industry meetings, request vast amounts of industry data and to get involved in industry disputes. It also discusses the increasing focus of the NSTA on the energy transition. 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target="_blank">What is surprising about the MER regime?</a></li> <li><a class="book-menu-items" href="https://youtu.be/XLhNTnhqXGk" target="_blank">What is unusual about the MER regime?</a></li> </ul> </div> </nav> <div class="modal fade" id="orderFormModal" tabindex="-1" role="dialog" aria-labelledby="orderFormModalLabel" aria-hidden="true"> <div class="modal-dialog modal-mdmd" role="document"> <div class="modal-content"> <div class="modal-header"> <h5 class="modal-title" id="orderFormModalLabel" style="display:inline-block;"> Order Form </h5> <button type="button" class="close" data-dismiss="modal" aria-label="Close"> <span aria-hidden="true">×</span> </button> </div> <div class="modal-body js-order-form-container"> <p> Please complete the fields below, and we will be in touch to arrange your access. </p> <div id="glo-form-container"> <div class="form-group has-feedback"> <label for="inputForename">Forename</label> <input id="inputForename" type="text" name="forename" 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>Cuba</option> <option value="54" >Cyprus</option> <option value="55" >Czech Republic</option> <option value="56" >Denmark</option> <option value="57" >Djibouti</option> <option value="58" >Dominica</option> <option value="59" >Dominican Republic</option> <option value="60" >East Timor</option> <option value="61" >Ecuador</option> <option value="62" >Egypt</option> <option value="63" >El Salvador</option> <option value="64" >Equatorial Guinea</option> <option value="65" >Eritrea</option> <option value="66" >Estonia</option> <option value="67" >Ethiopia</option> <option value="68" >Falkland Islands (Malvinas)</option> <option value="69" >Faroe Islands</option> <option value="70" >Fiji</option> <option value="71" >Finland</option> <option value="72" >France</option> <option value="73" >France, Metropolitan</option> <option value="74" >French Guiana</option> <option value="75" >French Polynesia</option> <option value="76" >French Southern Territories</option> <option value="77" >Gabon</option> <option value="78" >Gambia</option> <option value="79" >Georgia</option> <option value="80" >Germany</option> <option value="81" >Ghana</option> <option value="82" >Gibraltar</option> <option value="83" >Guernsey</option> <option value="84" >Greece</option> <option value="85" >Greenland</option> <option value="86" >Grenada</option> <option value="87" >Guadeloupe</option> <option value="88" >Guam</option> <option value="89" >Guatemala</option> <option value="90" >Guinea</option> <option value="91" >Guinea-Bissau</option> <option value="92" >Guyana</option> <option value="93" >Haiti</option> <option value="94" >Heard and Mc Donald Islands</option> <option value="95" >Honduras</option> <option value="96" >Hong Kong</option> <option value="97" >Hungary</option> <option value="98" >Iceland</option> <option value="99" >India</option> <option value="100" >Isle of Man</option> <option value="101" >Indonesia</option> <option value="102" >Iran (Islamic Republic of)</option> <option value="103" >Iraq</option> <option value="104" >Ireland</option> <option value="105" >Israel</option> <option value="106" >Italy</option> <option value="107" >Ivory Coast</option> <option value="108" >Jersey</option> <option value="109" >Jamaica</option> <option value="110" >Japan</option> <option value="111" >Jordan</option> <option value="112" >Kazakhstan</option> <option value="113" >Kenya</option> <option value="114" >Kiribati</option> <option value="115" >Korea, Democratic People's Republic of</option> <option value="116" >Korea, Republic of</option> <option value="117" >Kosovo</option> <option value="118" >Kuwait</option> <option value="119" >Kyrgyzstan</option> <option value="120" >Lao People's Democratic Republic</option> <option value="121" >Latvia</option> <option value="122" >Lebanon</option> <option value="123" >Lesotho</option> <option value="124" >Liberia</option> <option value="125" >Libyan Arab Jamahiriya</option> <option value="126" >Liechtenstein</option> <option value="127" >Lithuania</option> <option value="128" >Luxembourg</option> <option value="129" >Macau</option> <option value="130" >Macedonia</option> <option value="131" >Madagascar</option> <option value="132" >Malawi</option> <option value="133" >Malaysia</option> <option value="134" >Maldives</option> <option value="135" >Mali</option> <option value="136" >Malta</option> <option value="137" >Marshall Islands</option> <option value="138" >Martinique</option> <option value="139" >Mauritania</option> <option value="140" >Mauritius</option> <option value="141" >Mayotte</option> <option value="142" >Mexico</option> <option value="143" >Micronesia, Federated States of</option> <option value="144" >Moldova, Republic of</option> <option value="145" >Monaco</option> <option value="146" >Mongolia</option> <option value="147" >Montenegro</option> <option value="148" >Montserrat</option> <option value="149" >Morocco</option> <option value="150" >Mozambique</option> <option value="151" >Myanmar</option> <option value="152" >Namibia</option> <option value="153" >Nauru</option> <option value="154" >Nepal</option> <option value="155" >Netherlands</option> <option value="156" >Netherlands Antilles</option> <option value="157" >New Caledonia</option> <option value="158" >New Zealand</option> <option value="159" >Nicaragua</option> <option value="160" >Niger</option> <option value="161" >Nigeria</option> <option value="162" >Niue</option> <option value="163" >Norfolk Island</option> <option value="164" >Northern Mariana Islands</option> <option value="165" >Norway</option> <option value="166" >Oman</option> <option value="167" >Pakistan</option> <option value="168" >Palau</option> <option value="169" >Palestine</option> <option value="170" >Panama</option> <option value="171" >Papua New Guinea</option> <option value="172" >Paraguay</option> <option value="173" >Peru</option> <option value="174" >Philippines</option> <option value="175" >Pitcairn</option> <option value="176" >Poland</option> <option value="177" >Portugal</option> <option value="178" >Puerto Rico</option> <option value="179" >Qatar</option> <option value="180" >Reunion</option> <option value="181" >Romania</option> <option value="182" >Russian Federation</option> <option value="183" >Rwanda</option> <option value="184" >Saint Kitts and Nevis</option> <option value="185" >Saint Lucia</option> <option value="186" >Saint Vincent and the Grenadines</option> <option value="187" >Samoa</option> <option value="188" >San Marino</option> <option value="189" >Sao Tome and Principe</option> <option value="190" >Saudi Arabia</option> <option value="191" >Senegal</option> <option value="192" >Serbia</option> <option value="193" >Seychelles</option> <option value="194" >Sierra Leone</option> <option value="195" >Singapore</option> <option value="196" >Slovakia</option> <option value="197" >Slovenia</option> <option value="198" >Solomon Islands</option> <option value="199" >Somalia</option> <option value="200" >South Africa</option> <option value="201" >South Georgia South Sandwich Islands</option> <option value="202" >Spain</option> <option value="203" >Sri Lanka</option> <option value="204" >St. Helena</option> <option value="205" >St. Pierre and Miquelon</option> <option value="206" >Sudan</option> <option value="207" >Suriname</option> <option value="208" >Svalbard and Jan Mayen Islands</option> <option value="209" >Swaziland</option> <option value="210" >Sweden</option> <option value="211" >Switzerland</option> <option value="212" >Syrian Arab Republic</option> <option value="213" >Taiwan</option> <option value="214" >Tajikistan</option> <option value="215" >Tanzania, United Republic of</option> <option value="216" >Thailand</option> <option value="217" >Togo</option> <option value="218" >Tokelau</option> <option value="219" >Tonga</option> <option value="220" >Trinidad and Tobago</option> <option value="221" >Tunisia</option> <option value="222" >Turkey</option> <option value="223" >Turkmenistan</option> <option value="224" >Turks and Caicos Islands</option> <option value="225" >Tuvalu</option> <option value="226" >Uganda</option> <option value="227" >Ukraine</option> <option value="228" >United Arab Emirates</option> <option value="229" >United Kingdom</option> <option value="230" >United States</option> <option value="231" >United States minor outlying islands</option> <option value="232" >Uruguay</option> <option value="233" >Uzbekistan</option> <option value="234" >Vanuatu</option> <option value="235" >Vatican City State</option> <option value="236" >Venezuela</option> <option value="237" >Vietnam</option> <option value="238" >Virgin Islands (British)</option> <option value="239" >Virgin Islands (U.S.)</option> <option value="240" >Wallis and Futuna Islands</option> <option value="241" >Western Sahara</option> <option value="242" >Yemen</option> <option value="243" >Zaire</option> <option value="244" >Zambia</option> <option value="245" >Zimbabwe</option> </select> </div> <div class="form-group has-feedback js-vat-number-container hidden"> <label for="inputVatNumber">VAT Number</label> <input id="inputVatNumber" type="text" name="vat_number" class="form-control js-order-form-vat_number" maxlength="32" value=""> </div> <div class="form-group has-feedback"> <label for="inputCurrency">In which currency would you like to be invoiced?</label> <select id="inputCurrency" name="currency" class="form-control js-order-form-currency"> <option value="">Select Currency</option> <option value="euro" >Euro</option> <option value="sterling" >Sterling</option> <option value="usd" >USD</option> </select> </div> <div class="form-group has-feedback"> <label for="inputDiscountCode">Add discount code (if applicable)</label> <input id="inputDiscountCode" type="text" name="discount_code" class="form-control js-order-form-discount_code" value=""> </div> </div> <p> Please fill in all fields </p> <div class="js-order-summary" data-url="https://www.globelawandbusiness.com/request-offer-5user-order-summary"> <div> <span class="js-order-summary-product-name">Maximising Economic Recovery</span>: <span class="js-product-base-price">0</span> </div> <div class="js-discount-line ) hidden "> Discount (<span class="js-discount-percent">0</span>%): <span class="js-discount-value"></span> </div> <div class="js-vat-line"> VAT: <span class="js-vat-value">0</span> </div> <div> Total price: <span class="js-total-price">0</span> </div> </div> </div> <div class="modal-footer"> <button type="button" class="btn btn-secondary" data-dismiss="modal">Close</button> <button type="button" class="btn btn-primary js-order-form-submit" data-type="book" data-id="1682" data-url="https://www.globelawandbusiness.com/request-offer-5user-license">Submit</button> </div> </div> </div> </div> <div class="book-content"> <div class="book-info"> <div class="book-info-row"> <div class="book-info-cell book-info-cell-img"> <a href="https://www.globelawandbusiness.com/books/maximising-economic-recovery/content" target="_blank" > <img src="https://www.globelawandbusiness.com/storage/images/books/1682-63d289f1ccfe2.jpg" alt=""> <div class="book-info-image-text-link"> Look inside<img src="https://www.globelawandbusiness.com/images/look-inside.png" alt="Look inside"> </div> </a> </div> <div class="book-info-cell book-info-cell-content"> <p> <strong>Author(s): </strong> Judith Aldersey-Williams, Valerie Allan - CMS </p> <p> <strong>Publication date:</strong> Jun 2023 </p> <p> <strong>Format:</strong> <span class="js-item-format">Hardback</span> </p> <p> <strong>Pages:</strong> 296 </p> <p> <strong>Price:</strong> <span class="item-price"> 拢195.00 </span> </p> <p> <strong>ISBN:</strong> <span class="item-isbn"> 9781787429703 </span> </p> <p class="p-select-options"> <strong>Select format: </strong> </p> <div class="form-group btns-stack js-product-item-type" data-id="1682" data-type="book"> <label 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href="https://store.globelawandbusiness.com/checkout/175/?original=https://www.globelawandbusiness.com/books/maximising-economic-recovery&return_url=https%3A%2F%2Fwww.globelawandbusiness.com&isbn1=9781787429703&copies=1&currency=GBP&response=json" class="btn btn-book-order js-add-to-basket js-open-related-products" data-product-name="Maximising Economic Recovery" data-category-name="book" data-product-id="1682">Add to basket</a> </span> <span class="js-offer-5user-license-button hidden"> <a href="#" class="btn btn-book-order js-offer-5user-license" data-title="Maximising Economic Recovery" data-type="book" data-id="1682" data-target="#orderFormModal">Order multi-user eBook</a> </span> </p> <div class="special-text" style="color: #9a371f;"> Featuring a foreword by Andy Samuel CBE, Chief Executive of the NSTA (2015-2022) </div> </div> <div class="book-review"> <div class="top-line" style="border-color: #9a371f; color: #9a371f;">Reviews</div> <div class="review-block"> <p>MER is a complicated concept, made all the more complex by recent amendments to the strategy. The intrinsic value of this book is its deep dive into the origins of MER, the changes that have occurred, and the recent shift in name and strategy to the broader energy transition. Trying to piece all of the components of MER is difficult, but this book makes it much easier. This is an exceptional book from exceptionally knowledgeable authors. This book is timely given the importance of MER in the UK’s energy transition strategy.</p> <p> <span class="review-author" style="color: #9a371f;"> - Professor Tina Soliman Hunter</span>, <span class="review-author" style="color: #9a371f;"> Professor of Energy and Resources Law, Macquarie University</span> </p> </div> <div class="review-block"> <p>The work is an outstanding feat of synthesis and fresh analysis.  It will be an indispensable reference point for all that is subsequently written on this topic.  It is essential reading for all practitioners involved in the UK offshore oil and gas industry.</p> <p> <span class="review-author" style="color: #9a371f;"> - Professor Greg Gordon</span>, <span class="review-author" style="color: #9a371f;"> University of Aberdeen</span> </p> </div> <div class="review-block"> <p>To jump straight to the conclusion: this is a very good book. It is authoritative, comprehensive and lucid, and it is written by authors who clearly know what they are talking about. At first blush, the subject matter of this book might not appeal to everyone, but this book should command a much wider readership—indeed, for petroleum-producing jurisdictions worldwide, this book ought to be compulsory reading.</p> <p> <span class="review-author" style="color: #9a371f;"> - Peter Roberts</span>, <span class="review-author" style="color: #9a371f;"> Journal of World Energy Law and Business (OUP)</span> </p> </div> </div> <div class="bottom-line" style="border-color: #9a371f;"></div> <div class="book-text"> <p>The regulatory regime encapsulated in the term ‘maximising economic recovery’ or MER, now administered by the North Sea Transition Authority (NSTA), was introduced in 2015. It emerged from a government-commissioned report by Sir Ian Wood, published in 2014, which recommended the introduction of a new tripartite strategy for MER from the UKCS involving HM Treasury, industry and a new regulator at arm’s length from government.</p> <p>This was intended to address the problems of an ageing basin in which smaller discoveries meant new fields were more marginal and interdependent than in the past. An increasingly diverse set of companies operating these smaller, more interconnected fields resulted in greater competition for ageing infrastructure and required increased collaboration between operators to ensure that fields remain economical. These factors, coupled with growing competition for investment from outside the UK, had led to significant falls in production, production efficiency and exploration.</p> <p>The new approach requires regulated persons active in UKCS operations to seek to maximise economic recovery not just from their own assets but across the basin and therefore requires unprecedented levels of collaboration. It has also resulted in a far more hands-on regulator seeking to use both influence and enforcement to radically alter the culture of the UKCS.</p> <p>This book is not a complete guide to oil and gas industry regulation in the UK; instead, it is specific to the MER UK regime. Featuring a foreword by Andy Samuel CBE, Chief Executive of the NSTA from 2015-2022, the book describes the legislative changes that introduced the regime, the nature of the NSTA, and how it uses ‘soft power’ to achieve many of its aims. It also describes the regulatory tools at the NSTA’s disposal including the nature of the OGA Strategy and how this can be enforced through sanctions, the right to attend a wide range of industry meetings, request vast amounts of industry data and to get involved in industry disputes. It also discusses the increasing focus of the NSTA on the energy transition.</p> <p>This book will be of interest to legal practitioners active in energy law whether in private practice or in house, academics and students with an interest in energy regulation and regulators looking at the UKCS as a model for other jurisdictions.</p> </div> <div class="footer-info show"> <p> <strong>Price:</strong> <span class="item-price"> 拢195.00 </span> </p> <p> <strong>Select format: </strong> </p> <div class="form-group btns-stack js-product-item-type" data-id="1682" data-type="book"> <label class="radio-inline"> <input type="radio" name="format_footer" value="hardback" data-name="Hardback" checked > Hardback </label> <label class="radio-inline"> <input type="radio" name="format_footer" value="digital_epub" data-name="eBook"> eBook </label> <label class="radio-inline"> <input class="js-switch-glo-5user-license" type="radio" name="format_footer" value="offers_glo_5user_license" data-name="multi-user eBook"> multi-user eBook </label> </div> <p class="p-digital-modal"> <a href="javascript:;" class="js-digital-modal" data-url="https://www.globelawandbusiness.com/books-digital-modal" data-version="2">How our eBook platform works</a> <br /> <a href="javascript:;" class="a-glo-modal js-glo-modal" data-url="https://www.globelawandbusiness.com/books-glo-modal" data-version="1">How permanent access, multi-user eBooks work</a> <br /><br /> </p> <p> <span class="item-basket-url"> <a href="https://store.globelawandbusiness.com/checkout/175/?original=https://www.globelawandbusiness.com/books/maximising-economic-recovery&return_url=https%3A%2F%2Fwww.globelawandbusiness.com&isbn1=9781787429703&copies=1&currency=GBP&response=json" class="btn btn-book-order js-add-to-basket js-open-related-products" data-product-name="Maximising Economic Recovery" data-category-name="book" data-product-id="1682">Add to basket</a> </span> <span class="js-offer-5user-license-button hidden"> <a href="#" class="btn btn-book-order js-offer-5user-license" data-title="Maximising Economic Recovery" data-type="book" data-id="1682" data-target="#orderFormModal">Order multi-user eBook</a> </span> </p> </div> </div> </div> <div class="right-side"> <section class="related-book"> <h2> Related books ... </h2> <div class="related-book-item"> <a href="https://www.globelawandbusiness.com/books/oil-and-gas-a-practical-handbook-3rd-edition"> <img src="https://www.globelawandbusiness.com/storage/images/books/1348-5b0ef0743a595.jpg" alt="Oil and Gas"> </a> <p> <a href="https://www.globelawandbusiness.com/books/oil-and-gas-a-practical-handbook-3rd-edition" style="color: #00657c;"><strong>Oil and Gas</strong></a> A Practical Handbook, Third Edition<br> <strong>拢160.00</strong> </p> </div> <div class="related-book-item"> <a href="https://www.globelawandbusiness.com/books/joint-operating-agreements-fourth-edition"> <img src="https://www.globelawandbusiness.com/storage/images/books/1365-5d1489252a746.jpg" alt="Joint Operating Agreements:"> </a> <p> <a href="https://www.globelawandbusiness.com/books/joint-operating-agreements-fourth-edition" style="color: #c12423;"><strong>Joint Operating Agreements:</strong></a> A Practical Guide, Fourth Edition <br> <strong>拢175.00</strong> </p> </div> <div class="related-book-item"> <a href="https://www.globelawandbusiness.com/books/gas-and-lng-price-arbitrations-a-practical-handbook-second-edition"> <img src="https://www.globelawandbusiness.com/storage/images/books/1354-5f058daa75807.jpg" alt="Gas and LNG Price Arbitrations"> </a> <p> <a href="https://www.globelawandbusiness.com/books/gas-and-lng-price-arbitrations-a-practical-handbook-second-edition" style="color: #ea7125;"><strong>Gas and LNG Price Arbitrations</strong></a> A Practical Handbook, Second Edition<br> <strong>拢175.00</strong> </p> </div> </section> </div> </div> </div> </div> <div class="form-right ad-banner" id="fixed-div2"> <div class="section-content"> <a href="https://www.globelawandbusiness.com/books/ai-and-the-legal-profession-transforming-the-future-of-law" target="_blank" rel="nofollow"> <img src="https://www.globelawandbusiness.com/storage/images/adverts/2-65d4b20c06a64.jpg" > </a> </div> </div>  <div class="modal fade v-modal" id="vModal" tabindex="-1" role="dialog" aria-labelledby="vModalLabel" aria-hidden="true"> <div class="modal-dialog" role="document"> <div class="modal-content"> <div class="modal-header"> How will AI affect directors' risk? 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