Oil and gas: Review of UK offshore oil and gas recovery
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The Oil & Gas Authority launched a new website on 3 October 2016 to reflect its new status as a government company.
This formalises the transfer of the Secretary of State’s regulatory powers in respect of oil and gas to the OGA,
and grants it new powers. This website will no longer be updated. Visitors should refer to www.ogauthority.co.uk
Sir Ian Wood is leading a review aiming to maximise the economic recovery from the UK offshore oil and gas.
Edward Davey MP, Secretary of State for Energy and Climate Change, has announced a review of UK offshore oil and gas recovery, which will be led by Sir Ian Wood.
The UK’s oil and gas industry is of national importance and makes a substantial contribution to our energy security. 41 billion barrels of oil and gas have already been produced from the UK Continental Shelf (UKCS), and 20 billion or more could still be produced. So it is vital that we continue to make the most of the huge opportunity that the UK Continental Shelf (UKCS) still represents.
While investment levels are rising and the near-term prospects for the UKCS are strong, as one of the most mature offshore basins in the world it faces unprecedented challenges which merit a focused, in-depth review.
The Secretary of State has invited Sir Ian Wood, recently-retired chair of Wood Group, to lead this review. Sir Ian brings huge experience to the task following a career spanning four decades of leadership in the UKCS. He will work with leaders across industry, Government and elsewhere to produce robust analysis, conclusions and recommendations for improving future economic recovery of UKCS oil and gas. If you would like to get in touch with the review team, they can be contacted at email@example.com
Sir Ian will produce emerging conclusions in the autumn and the final report and recommendations in early 2014.
Read the Terms of Reference for the review and the full Written Ministerial Statement that was placed in the Parliament on 10 June 2013: