OT15850 - PRT: Tax-Exempt Tariffing Receipts

Transmedian Fields

Where a field is partly within the jurisdiction of the UK government and partly within the jurisdiction of the government of another country FA80/S107 treats the foreign sector of the field as being included in the UK oil field ( OT13450). But for the purposes of the tax-exempt tariffing receipts rules OTA83/S6A(6) treats the foreign sector as a separate foreign field ( OT15840).

See also Disqualifying assets ( OT15860) where an asset is a qualifying asset ( OT15100) in relation to a participator in the UK sector of a transmedian field and also a chargeable asset in relation to a participator in the foreign sector.