UK’s fiscal and regulatory hurdles pull the plug on FPSO buy as North Sea oil project awaits policy reset

A deal for an FPSO, picked for an oil redevelopment project in the North Sea, has been taken off the table as New European Offshore (NEO Energy) and its partners, Serica Energy and Jersey Oil & Gas (JOG), continue to wait clarity on the fiscal and regulatory woes arising from the UK’s current oil and gas policy conundrums.

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