Oil and Gas – Licences
The AER updated its licensee capability assessment (“LCA”) and the underlying technology as announced in Bulletin 2023-04: New Editions of Directive 088 and Manual 023. The updates include:
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Parameters that use “three-year” history data have been changed from calendar years to a 36-month sliding window. As a result, parameter values will be updated monthly rather than annually.
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The peer group ranking methodology has been changed from “unique per cent” (grading on a curve) to “differential,” which compares absolute performance more directly.
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“Null” data points are now handled better:
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To resolve the issue where licensees without data have been incorrectly given a score of zero for the affected parameter.
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To “roll-up” parameter scores that include “null” data are now calculated using non-null parameter scores only and then scaled using the sum of the weightings of the non-null parameters.
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The user interface now shows “overdue” if the financial statements required under Directive 067: Eligibility Requirements for Acquiring and Holding Energy Licences and Approvals have not been received within 180 days of the licensee’s financial year-end.
These changes are supported by updates to Manual 023:Licensee Life-Cycle Management. A complete list of all changes can be found in the LCA tool release notes.
