Article 7 Field Allowance for deep water gas field
For the purpose of Schedule 44, the total field allowance (“TFA”) for a new oil field in the case of a deep water gas field is, subject to article 8, calculated as follows—
where—
(a)
“Y” is—
(i)
£800,000,000; or
(ii)
where there are more than two deep water gas fields authorised on the same day, £1,600,000,000 divided by the number of deep water gas fields authorised on that day; and
(b)
“D” is—
(i)
the length in kilometres of the distance covered by article 3(2) where that is more than 60 but less than 120; or
(ii)
120 where that length is 120 kilometres or more.