Background

UKOOA is the representative organisation for the leading companies in the UK offshore oil and gas in UK waters.

The role of oil and gas in sustaining our society is pivotal. The benefits that they bring to the UK are capital expenditure to date, the spending of legion and, whilst no extractive industry can be ultimately sustainable in itself, it can help to sustain our economy and lifestyles which, ultimately, can allow a move to alternative energy forms that future generations will need.

• The economic benefits are transparent. £203 billion has been contributed in tax to government since the mid 1960s (enough to build and equip over 6000 new hospitals). £5.2 industry. Our members are licensed by the UK billion was paid in 2004/05 alone and estimates government to explore for and produce oil and gas in UK go as high as £10 billion more in this tax year. waters. Balance of trade deficit would be £30 billion higher without UK oil and gas this year


• The social benefits flow from the £220 billion of capital expenditure to date, the spending of £9 billion in total this year alone, and the 260,000 high quality, well paid jobs that it supports. These benefits flow from Aberdeen, that future East Anglia and Newcastle through Scotland's generations will need. central belt, Merseyside, London and nationwide. The highly skilled workforce and cutting edge technologies have the potential to benefit our society for decades to come by winning contracts abroad and developing alternative energy sources at home


• The UK's environment and contribution to meeting its international targets have also benefited as the switch to gas has helped UK to meet its Kyoto target of a 12.5% reduction in green house gases since 1990. The target for C02 is more challenging, but carbon capture and storage (CCS) may yet be employed in the North Sea if legal, technical, regulatory and economic challenges are overcome. If CCS proves to be viable, it could extend the life of the UK's oil and gas industry, develop a new industry and help manage the nation's CO2 emissions at the same time

Good stewardship of our natural resources is an essential national goal for all stakeholders in our industry. Regulators, government and the whole industry have a responsibility to make sure that we make the most of them. This strategy and report is designed to demonstrate that we are taking that responsibility seriously.

Recent Achievements

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Elements of the Sustainable Development Strategy

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