Transfers, dealings, change in control & other titleholder transactions

The approval or refusal of a transfer, dealing or change in control is a decision of the Titles Administrator under Chapter 4, 5 or 5A of the Offshore Petroleum and Greenhouse Gas Storage Act 2006 (the Act).

The transfer of a petroleum title usually involves transferring a title, or an interest in a title, from one legal entity to another.

A change in control relates to a change in companies that own the registered titleholder company (e.g. through a company sale or acquisition of shares). Titles Administrator approval must be sought for all changes in control that take effect on or after 2 March 2022.

A dealing is a transaction (other than a transfer of title) having one or more of the effects listed in section 486 of the Act.

A devolution of title is where the interest in a title transfers from one party to another by operation of law (for example, by court order).

A change of company name (as distinct from a change in control) is where there is a change in the name of a company that is a registered titleholder.

NOPTA Forms Guidance

The NOPTA Forms Guidance – Petroleum and NOPTA Forms Guidance – Greenhouse Gas have been developed as a general guides to assist applicants and titleholders in making valid applications, notifications and nominations.

Forms

NOPTA forms guidance (effective from 2 March 2022)

Application for approval of dealing affecting a petroleum title

Application for approval of dealing affecting a greenhouse gas title

Application for transfer of a petroleum title

Application for transfer of a greenhouse gas title

Application for change of company name

Change in control – Application for approval

Change in control – Notification of change in circumstances

Notification of change in control

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