Current Press Releases
UKOOA Urges Informed Debate on North Sea Oil and Gas In Energy Review
The launch today of the public consultation on the Governments review of energy policy was welcomed by the UK Offshore Operators Association (UKOOA), which urged an informed debate on the role of indigenous oil and gas in the UKs future energy mix.
Malcolm Webb, UKOOAs chief executive, said: "We will be making our views known regarding the vital importance of maximising production from the UKs own oil and gas reserves, bearing in mind that the countrys dependence on oil and gas for primary energy supply is currently 75 percent and is set to increase, not decrease, over the next decade or so.
"Security of energy supply depends on having diverse sources of supply and maximising production from indigenous sources. After 40 years since production first began in the North Sea there still remains nearly as much UK oil and gas to be extracted as has so far been produced.
"The UK can still continue to be a world class oil and gas producer for decades yet to come and as a nation, we should be prepared to take full advantage of this. This involves ensuring that the UK is competitively placed to attract the hundreds of billions of pounds of investment that will be needed to extract these resources.
"Frankly, the tax hike announced in the Pre-Budget Report has not helped and we hope that the Energy Policy Review can allow for a more informed review of the nations needs and help to redress the balance somewhat."
Notes to Editors
- The UK Offshore Operators Association (UKOOA) is the representative organisation for companies licensed by the British Government to explore for and produce hydrocarbons in UK waters. It has 34 members.
For further information, please contact:
UKOOA Communications Team
Tel: 020 7802 2422/2400
Fax: 020 7802 2401