United Kingdom

Details

  • Industry: Oil and Gas
  • Type: Press release
  • Date: 05/12/2013

Autumn Statement 2013: £140m added to cost base of UK oil service companies 

Thursday 5th December 2013


Andrew Lister, Energy Tax Partner at KPMG, said:

 

“We were surprised that the Autumn Statement includes an announcement that is expected to add £140m to the cost base of UK oil service companies who lease equipment, such as drilling rigs, from other companies in the same group.

 

“This may increase the costs to oil and gas companies of doing business in the UK and could potentially make some marginal projects uneconomic.”


-Ends-

 

Follow us on twitter: @kpmguk #AS2013

 

www.kpmg.com/uk/autumnstatement

 

For further information please contact:

 

MHP Communications

Tel:  +44 (0) 203 128 8758

 

Lucinda Kemeny

 

Mobile: 07958 924 188

 

Email: Lucinda.kemeny@mhpc.com


About KPMG:

 

KPMG LLP, a UK limited liability partnership, is a subsidiary of KPMG Europe LLP and operates from 22 offices across the UK with over 12,000 partners and staff.  The UK firm recorded a turnover of £1.8 billion in the year ended September 2012. KPMG is a global network of professional firms providing Audit, Tax, and Advisory services. We operate in 156 countries and have 152,000 professionals working in member firms around the world. The independent member firms of the KPMG network are affiliated with KPMG International Cooperative ("KPMG International"), a Swiss entity.  KPMG International provides no client services.

 

 

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