OEUK news

Government support continues for UK offshore oil and gas industry

28 August 2018

North Sea industry leaders today championed the value of the sector at a meeting with the UK Government’s Exchequer Secretary to the Treasury, Robert Jenrick MP.

Oil & Gas UK’s Chief Executive Deirdre Michie hosted a roundtable discussion at the leading representative body’s offices in Aberdeen, attended by a cross-party group of politicians, Oil and Gas Authority Chief Executive Andy Samuel and Oil & Gas UK board members.


Speaking after the meeting, Robert Jenrick MP said:

“I was pleased to visit Oil & Gas UK in Aberdeen today to meet with representatives from the industry and local MPs. 


“I reaffirmed the Treasury’s commitment to globally highly competitive, stable and predictable taxation for the sector, as first set out in Driving Investment in 2014.”


Oil & Gas UK Chief Executive Deirdre Michie added:


“It was great to welcome the Minister to Oil & Gas UK today to reaffirm the value of our sector to the UK economy.


“We continue to work with governments and the regulator to guarantee the success of our industry for many decades to come. It’s why I’m pleased the Minister again confirmed the government’s commitment to fiscal stability – a critical element of our offering to investors in a globally competitive market.

“Essential for security of energy supply, contributing billions to the economy and supporting hundreds of thousands of jobs, our indigenous oil and gas industry offers a sound investment case to the UK economy. Our challenge now is to underline the potential the UKCS continues to offer investors across the world. This is the path towards unlocking our shared ambition for the future, Vision 2035.”


Notes to Editors:

Issued by the Communications Team, Oil & Gas UK. Contact Communications Manager Natalie Coupar 01224 577343 / [email protected] 

Oil & Gas UK is the leading representative organisation for the UK offshore oil and gas industry. Its membership comprises oil and gas producers and contractor companies.


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