U.K.Fisheries Offshore Oil and Gas Legacy Trust Fund Limited (FLTC) was formed to reduce the risk of loss of life and /or injury of or damage to people or property caused by oil and gas structures or infrastructure.
FLTC Services Limited (FLTCS) a wholly owned subsidiary of FLTC provides mariners – especially fishermen- with detailed information about offshore oil and gas related hazards. For further details see www.fishsafe.eu
The FLTC Group is financed by payments including those made by operators/owners of installations or pipelines which government have permitted to remain in place after decommissioning, by a loan and additional financial support from Oil & Gas UK, grants from the Scottish Government and European Structural Funds and other sources.
FLTC is a registered charity and details of the payments which FLTC expect to receive from operators/ owners of assets which will remain in place are contained in an MOU, Amendment to the MOU and other documents produced by FLTC- see Key Documents section.
It is the intention that the Company will in perpetuity extend and make available the mapping and communications service which provides information about those installations and pipelines that will be allowed by the U.K. government to remain on the seabed after decommissioning and those which potentially may remain. Significant, one-off contributions to FLTC are therefore to be encouraged from owners of such installations and pipelines. FLTC manages the resulting endowment fund.
FLTCS’ current and prospective activities include:
- Ensuring provision of digitised data to fishermen about oil and gas related surface and sea bed structures and maintenance and updating of the relevant databases. This service is provided through the FishSAFE Information (FSI) Project.
- Long-term maintenance of seabed information by monitoring sites where decommissioning residues remain. This monitoring is additional to that required by law to be carried out by any licensee or other party. Such monitoring will be effected on a voluntary basis
- Providing to the U.K. Fishing Fleet FishSAFE units a device which gives an audible and visual warning when a vessel approaches at fishing speed an oil and gas surface or subsea structure on the UKCS.
FLTC’s activities include or may include:
- Collecting decommissioning payments
- Managing the Endowment Fund
- Supporting FLTCS to achieve its objectives
- Inter-industry issues management – engagement in inter-industry issues involving the oil and gas and fishing industries for example issues concerned with health and safety or environmental aspects of marine operations, including operational guidelines and practical responses to government concerns
- Research and Development – activities to enhance the safety of fishermen in UK waters by reducing the risk of loss as a result of Legacy Issues, in particular funding studies or other projects.
The activities of the FLTC Group are funded by:
Payments made by the operators or owners of oil and gas installations or pipelines which are permitted by the UK government to remain in situ following the completion of decommissioning
Financial support by Oil and Gas UK
Grants from the Scottish Government and European Structural Funds
Income from other sources including sponsorship
Key Documents about the activities of the FLTC Group include:
FLTC Group Directors’ Report and Financial Statements 2015