RESPONDING to the new Budget statement, the UK’s offshore oil and gas industry highlighted how its companies continue to play a central role in driving the innovation, skilling up the UK workforce and attracting the investment that is needed to support the UK’s post-Covid recovery, as described by the Chancellor of the Exchequer.
OGUK, the leading representative body for the UK offshore oil and gas industry, pointed to the landmark North Sea Transition Deal, agreed with the UK Government this year, as a blueprint to achieve this. The Deal, the first of its kind by any G7 country, details plans to accelerate crucial homegrown greener technologies like carbon capture and hydrogen, grow the UK’s world-leading supply chain’s low carbon innovation and export potential, deliver investment of £16 billion in greener technologies and create 40,000 new jobs in exciting green and greening energy careers.
These ambitious plans support the UK’s post-recovery, and in particular help to underpin the country’s energy security, its drive to achieve net zero carbon emissions by 2050, and supports the levelling-up agenda by securing employment opportunities in the country’s traditional energy communities.
OGUK Chief Executive Deirdre Michie OBE, said: “Throughout the pandemic, UK offshore oil and gas employees helped keep homes and hospitals powered, and the whole country functioning. Now our sector has a crucial role to play in supporting the country in its post-Covid recovery, generating affordable low carbon energy and supporting the delivery of the country’s climate ambitions.
“Through our North Sea Transition Deal, we have a blueprint that will help to achieve net zero, while keeping the lights on. We are also focused on accelerating the homegrown greener energies like wind, hydrogen and carbon capture that will get us there, with the generation of low carbon energy jobs for our skilled workforce to deliver them.”