Further to recent feedback received from Master Deed Transaction Leader training sessions on the date optionality in the Notice of Transfer, LOGIC have implemented a change to the Master Deed online system.
LOGIC is a not-for-profit wholly owned subsidiary of Oil & Gas UK that operates as the custodian for cross-industry projects that aim to increase the efficiency of working practice in the United Kingdom Continental Shelf (known as the UKCS).
LOGIC has its own corporate governance board.
Master Deed Online
Master Deed Online is an online system for UKCS asset transactions. Its purpose is to expedite the transfer of UKCS offshore licence interests and other agreements relating to associated assets and infrastructure.
The Standard Contracts for the UK offshore oil and gas industry (formerly CRINE contracts) have been developed by the Standard Contracts Committee and more recently, the Oil & Gas UK Legal Issues Forum - LOGIC Standard Contracts Workgroup, and are issued by LOGIC for use within the industry between companies and their contractors.