U.K. YIELDS PRT REFORM CONCESSIONS

The U.K. government bowed to criticism of recent Petroleum Revenue Tax and increased transitional tax relief on exploration and appraisal drilling until yearend 1994. Companies now can claim as much as 10 million each on drilling programs affected by a treasury plan to abolish exploration and appraisal drilling clawbacks (OGJ, Mar. 22, p. 31).

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