The organization will also be celebrating the 10th anniversary of its Master Deed system, which streamlines commercial processes between license holders on the UK Continental Shelf.

LOGIC’s new and extended Master Deed system will allow license holders to authorize transactions online.

The new improvement is targeted to ensure the entire system is online and all the concerned parties can benefit from savings in terms of time and money.

Master Deed allows passive third parties to commercial agreements affected by asset transfers to give consent quickly and cost effectively using LOGIC to complete the execution process on their behalf.

Over 270 companies have signed up as contracting parties to Master Deed and have completed almost 950 transactions.

LOGIC is planning to provide training sessions for users of the new online Master Deed system in Aberdeen and London in June 2013.