Business case
Our client, an independent oil and gas company, was denied an offshore exploration licence for failing to meet financial capability criteria set under new guidance.
Our analysis showed that many countries allowed applicants to tailor financing arrangements to their maturity, facilitating market access for independent companies. The report helped our client demonstrate that it had been unfairly excluded from the market.
We benchmarked the regulator’s financial guidance against practices in the US, Canada, Norway and the UK. We also assessed its coherence with the stated policy objective of favouring independent participants.