Responding to recent suggestions that additional climate compatibility checkpoint regulations should be applied retrospectively to previously cleared North Sea oil and gas fields at development stage, Will Webster Energy Policy Manager of OGUK, the leading representative body for the UK offshore oil and gas industry, said:
“Our industry is committed to the Scottish and UK net zero targets. It is good to see both governments recognise our sectors’ contribution to these energy policy objectives.
“Regarding Cambo and other future oil and gas investments, it is already demonstrated in projections by both government and independent agencies that these are compatible with net zero. This includes meeting residual oil and gas demand and taking account of the emission reductions the sector has already committed to, for example, in the North Sea Transition Deal. Overall such new investment will be more than offset by assets entering decommissioning.
“We have a robust regulatory system, ensuring transparency and challenge that is aligned with net zero, through the legally binding changes made in February 2021 to the Oil and Gas Authority’s responsibilities, and which are already a requirement on the entire industry.
“We appreciate the ongoing support from both governments and the recognition that the changing oil and gas industry and our 50 years of energy expertise is playing an important role in a low carbon, energy secure future, and look forward to continue working constructively with them both going forward.”