The leading representative body for the UK offshore oil and gas industry has today (Saturday 12 December) commented on the Prime Minister’s announcement that the UK will end direct government support for the oil and gas projects overseas.
Commenting on the announcement, OGUK’s chief executive Deirdre Michie said:
“The UK is taking a global leading role in how to tackle emissions at home, and we recognise we should do the same abroad. Our industry and its world class supply chain built on the back of pioneering work done over decades in the North Sea, have a key role to play in delivering the Prime Minister’s ten-point plan.
“We are also in advanced discussion with the government on a North Sea Transition Deal that can provide a model for how an industry can transform in a fair way which creates jobs, boosts the economy, and delivers on the essential policy goal of net zero emissions. In the coming years, with support from the Government, our homegrown energy supply chain has the potential to benefit hugely from exporting the expertise it is developing in carbon capture, in hydrogen and in decarbonising operations.
“We need to be careful to maintain our supply chain’s competitiveness that has built up over decades of North Sea experience, through a period of rapid change. If we are successful, the UK’s domestic leadership can reach around the world, with our industry at the heart of it. However, given the current fragility of our supply chain, this all needs to move quickly if we are to protect and sustain it as world class.”