RE:Cost accounting.
To clarify, VET are not just buying the Corrib asset. They are buying Equinor Ireland Ltd. (the corporate entity). As a result, all the unused tax loss carry forwards that Equinor has remaining transfer to VET and are usable by VET for "normal" tax accounting. The only reason that VET would not be able to utilize these remaining tax losses (VET also has tax losses remaining on its current share of Corrib) is if a WPT was written to specifically exclude this. No annual limit on tax loss reductions - this is not a depreciattion schedule situation.