OEUK news

Offshore oil and gas industry eyes net zero opportunities in recovery plan

18 May 2020

The leading representative body for the UK’s offshore oil and gas sector has convened a group of experts to help shape the sector’s recovery as it looks beyond the immediate health and safety issues posed by COVID-19. BP regional president Ariel Flores, Aker Solutions Head of UK and SVP Europe and Africa Sian Lloyd-Rees, Asset Solutions CEO at Wood Dave, VP Upstream at Shell Steve Phimister and Chrysaor CEO Phil Kirk will develop a strategy for the sector to recover as part of OGUK’s three stage framework revealed at the end of April.

The recovery group will focus on opportunities with short to midterm impact, with a view to stimulating much needed fresh activity for supply chain companies. Proposals to bring forward net-zero projects in energy communities across the UK are already at the centre of discussions on how to boost business opportunities, with industry leaders set to open discussions with the UK and Scottish Government on Carbon Capture and Storage, hydrogen and floating wind.

The group will explore opportunities from exploration to decommissioning, from maintenance programmes and desktop engineering design work, to offshore work programmes, to identify where projects could be brought forward or more widely promoted to stimulate activity levels for companies servicing the sector.

Following a briefing to media where the plans were set out in more detail, OGUK Operations Director Katy Heidenreich said:

“We know that we can’t wait around for a recovery to come to us, which is why we’re already in action to understand where we can support supply chain companies and identify fresh opportunities in a challenging low oil and gas price environment.

“Many of our members are already active in bringing carbon capture and storage, hydrogen and offshore floating wind projects to life across the UK. Our recovery plan will not only look at how we can support the oil and gas industry through improving our competitiveness as a basin, it will also look at how we can use this as an opportunity to position ourselves as an incubator for net zero projects.

“With extensive skills, capabilities and experience, it’s clear our will continue to play an important role in meeting as much of the UK’s oil and gas needs from domestic resources, while also shaping up to play an even bigger role in delivering the UK’s net zero ambitions.”


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