Net Zero
Net zero: The UK offshore oil and gas industry is already in action to reduce our emissions and put our skills to work to help other industries meet their climate goals.
Learn more about how OEUK and our members are active in delivering the UK’s energy transition
Energy Transition
Energy remains a crucial part of the UK economy, and we are committed to playing a positive role in the UK’s energy future. The UK industry has the expertise to help the UK Government meet its Net-Zero target by 2050.
After that, this industry has a significant economic role to play, supporting jobs and creating exciting energy careers for the future.
OEUK and its members are committed to working collaboratively toward the aims of Roadmap 2035. This pathway sets out to lead the way through our energy transition and the UK in achieving its net-zero targets. The UK’s offshore oil and gas industry is changing.
OEUK and the North Sea Transition Deal
In March 2021, the UK Government and UK industry agreed on a Deal to harness the sector’s 50 years of energy expertise. The first of its kind by any G7 nation, the North Sea Transition Deal will accelerate the green energy transition and create a new generation of exciting jobs in communities across the country.
Energy Transition
The deal will help to:
- It will unlock up to £16bn in investment over the next decade in crucial low carbon solutions, including CCUS and hydrogen.
- Support the creation of up to 40,000 new energy jobs in industrial heartlands across the UK.
- Cut UK emissions by 60 million tonnes. With 15 million tonnes of reductions from industry production by 2030 – the equivalent of annual emissions from 90% of the UK’s homes.
- Boosting the world-leading infrastructure – carbon capture – the Committee on Climate Change says is necessary to tackle climate change.
- Kickstart hydrogen here in the UK, building a platform to provide an alternative for heating, heavy industry, and transport.
- Will ensure energy communities like Aberdeen and Teesside can successfully transition, retaining jobs and skills and creating a more diverse and inclusive workforce.
- Reduce reliance on imported oil and gas – and be accountable for associated emissions.
Energy Transition
Methane Action Plan
OEUK launched the Methane Action Plan, a blueprint for helping the industry reduce methane emissions by 50% and phase out routine flaring and venting by 2030.
We’ve produced this short animation that explains methane’s effect on the environment and the industry’s plan to tackle it.
Our industry and COP27
COP26 was a significant moment in time for our industry in 2021. However, this wasn’t the beginning of the industry’s journey to net zero. Back in 2019, we launched our response and commitment to the net zero challenge with our Roadmap2035.
This led to industry feedback, and ever since, OEUK has been at the forefront of driving and promoting an industry making serious commitments and significant change as we progress the energy transition for the UK.
We look forward to sharing our progress.
Energy Transition
Our blueprint for success: Roadmap 2035
As the first industrial sector to respond to net zero, OEUK is proud to have support from across the industry and its stakeholders. Therefore, we’ve secured commitments from the people delivering the rapid change required and therefore, we monitor and track progress and hold the industry accountable so that we stay on track.
Understanding emissions reduction
Our industry continues to proactively address the emissions issue. The production and consumption of oil and gas, and forms a key component of our long-term strategy. In 2020, the industry set ambitious Emissions Reduction Targets designed to halve production emissions by 2030, on route to becoming a net zero basin by 2050. The industry is already deploying new technologies and processes which is part of the active energy transition. Above all, we rise to the challenge of balancing energy security with achieving these ambitious net-zero targets.
Achieving net zero together
Our members represent this vital industry. As a result, every member is central in supplying an energy mix that meets the UK’s energy demands whilst achieving a Net-Zero UK.
In other words, our members and key stakeholders, such as the Oil and Gas Authority (OGA), follow best practices, understand the challenges ahead, and will measure progress. In conclusion, it is a challenging and exciting time of change for the industry. Help support us in this unique time of change and become part of OEUK’s membership today.
We champion the work of our members. This is achieved through industry case studies demonstrating their business is supporting one of the five themes of our industry Roadmap.
The Roadmap sets clear goals for our industry. For example, the activities required support activities that promote innovation, improve safety, and build a diverse and inclusive workforce. All of these are necessary for us to meet the UK’s net-zero targets.
Oil and gas in our everyday lives
You don’t often think beyond the headlines, or the plug, as we consume energy. Moreover, oil and gas are used for our cars, trains and planes and require our industry energy. It keeps us moving and connected. At home, the gas heats our homes, keeping us warm. We use it for cooking our food. Consequently, many other uses for oil and gas are not often appreciated. However, many items we all use daily are simply impossible without by-products of oil and gas or the energy our industry provides.
How we view and consume energy is changing. As are the opportunities and needs of our industry as we transition to the future.
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