VATLP02710 - Supply: place of supply and liability of exploration and production licences in the UK oil industry: background
»Ê¹ÚÌåÓýapp Petroleum Act 1998 gives the Crown rights to search, bore and extract petroleum (including oil and natural gas) within Great Britain.
»Ê¹ÚÌåÓýapp Crown can grant an exploration or production licence through the Secretary of State for Business, Innovation and Skills. »Ê¹ÚÌåÓýapp licence cannot be sold, transferred or assigned without the consent of the Secretary of State.