North Sea oil industry assessment date announced

The impact of the recently-announced taxation on the North Sea oil industry is set to be discussed at a conference next month.

Taking place on May 9th to 10th, SMi Group's Taxation in Oil and Gas event will be held in London.

Aiming to look at the effects of the levies, which were revealed in last month's Budget, the conference will examine how various projects could fare after this new tax has been integrated into companies' fiscal outlooks.

Industry figures such as BP and Shell are expected to attend and present information.

Meanwhile, case studies will also be looked at to examine the future industry landscape and methods of profitable accounting.

"The conference will provide personnel responsible for tax management from oil and gas companies with a detailed understanding of tax law, [as well as] examine recent changes and initiatives," claims Smi Group.

Recently, oil industry expert Professor Alex Kemp took part in a podcast interview with Oil and Gas IQ to discuss the impact of the taxation on North Sea companies.

He claimed that it could prove to have a negative impact on cash flow and return on investment.