Merger and Acquisition Activity on UKCS Surpasses $8 billion in 2017
- Submitted by: Alexander Burnett, Aberdeenshire West, Scottish Conservative and Unionist Party.
- Date lodged: Tuesday, 19 December 2017
- Motion reference: S5M-09689
That the Parliament welcomes the news that the merger and acquisition (M&A) activity on the UK Continental Shelf has surpassed $8 billion in 2017; considers that this is a clear sign that confidence is gradually returning to the basin; further welcomes the UK budget announcement of the transferable tax history mechanism; and expects that M&A activity will continue into 2018 as established players can more easily divest their non-core assets to companies better suited to invest in them and extend field life.
Supported by:
Jeremy Balfour, Michelle Ballantyne, Bill Bowman, Miles Briggs, Peter Chapman, Murdo Fraser, Maurice Golden, Rachael Hamilton, Alison Harris, Liam Kerr, Gordon Lindhurst, Tom Mason, Margaret Mitchell, Edward Mountain, Liz Smith, Alexander Stewart, Brian Whittle