Andy Samuel, OGA Chief Executive, said: “We are delighted to welcome Greg Clark for his first visit to Aberdeen today as Secretary of State, just weeks after being appointed.
“Over the last year, we have worked closely with our colleagues in the Department for Business, Energy and Industrial Strategy and other government departments to put in place the legislative and regulatory foundations to support OGA’s transition to an independent government company (GovCo), including the passing of the MER UK Strategy in March and the Energy Act just two months later.
“GovCo status formalises our position as a strong and effective authority with a full suite of regulatory powers to have a positive, transformational effect. Like industry, we are bound by the obligations of the MER UK Strategy, and will continue to deliver on our priorities to drive collaboration, influence and promote the remaining prospectivity of the UKCS.”
Notes to editors:
- There are still a number of matters which must be concluded before the OGA formally becomes a Government Company (GovCo). Vesting is the phrase we use to describe the process.
- This process consists of completing a number of final regulations and administrative issues.
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