Production from UK waters still provides 70% of our oil and gas needs and is therefore important in ensuring the security of supply into UK refiners and processors.
To realise the UK’s shared climate goals, as well as maintaining affordable energy and a strong base for the UK’s energy supply chain to build from, OGUK reinforced that government policy and regulation must continue to prioritise domestic production over imported energy.
To do so the UK government needs to continue investing in this sector and work with it to ensure the goal of net-zero by 2050 or earlier is met.
More details at:
OGUK: Over $4 bln of lost investment during pandemic threatens net-zero future