totaltenders
Buying Organisation
DEPARTMENT OF ENERGY AND CLIMATE CHANGE
Contract Value
£30,000
Suitable for SMEs
Yes
Suitable for VCSEs
No
The Department of Business, Energy and Industrial Strategy (BEIS) have a team which consists of subject experts embedded from the OGA, policy and programme expertise from BEIS and external insolvency and financial advisors. This team has been working with others in Government to understand the financial challenges faced by UK Continental Shelf (UKCS) licence holders in light of the enduring lower oil and gas prices and what impact that may have on their activities and decommissioning obligations.nnBEIS have recently implemented measures to assess and identify potential Licensees who may already be, or may be likely to be in the near future, in financial distress. To inform this review of the sector BEIS have requested detailed financial data sets from a number of UKCS License holders. nnThis procurement will help BEIS to analyse seven of these company financial data sets to understand whether there are any Licensees and assets at risk, understand any potential impact, and ultimately devise a plan to mitigate any government liability.nnThe role of the appointed analyst will be to support the work programme by providing concise analysis based on data received from the Licensees and a key issues report and analysis to assist BEIS in identifying which companies are potentially in financial distress over the short to medium term and that may require further investigation.nnnnDescription: nnThe RequirementnnBEIS have recently implemented measures to assess and identify potential Licensees who may already be, or may be likely to be in the near future, in financial distress. To inform this review of the sector BEIS have requested detailed financial data sets from a number of UKCS License holders. The information requested is summarised below:nn1. UK subsidiary informationnna) Financial information and arrangementsni. Management and audited accounts; nii. Group structure/organogram;niii. Asset performance reports;niv. Details of any financial arrangements and joint venture partnerships.nb) Decommissioning Securityni. Details of Decommissioning Security Agreements (DSAs);nii. Clauses or agreements in the joint operating agreement (JOA) or other commercial agreements which cover decommissioning liabilities or provisions.n2. Parent company informationni. Confirmation of support to the UK subsidiary/subsidiaries.nNote: the quality and completeness of response from Licensees is varied.nnThis procurement will help BEIS to analyse seven of these company financial data sets to understand whether there are any Licensees and assets at risk, understand any potential impact, and ultimately devise a plan to mitigate any government liability.nnSee further comments regarding the description of this requirement below.
Administration services (CPV 75100000)
Research and development services and related consultancy services (CPV 73000000)
United Kingdom (UK)
DEPARTMENT OF ENERGY AND CLIMATE CHANGE
Further information on this tender from DEPARTMENT OF ENERGY AND CLIMATE CHANGE when you create a FREE Account
View all of your tenders, see forthcoming opportunities, access data/reports.