Energy Minister Matthew Hancock MP has challenged the energy sector supply chain to continue with the development of new and innovative solutions to maximise UK resources and take advantage of international opportunities.
Speaking at the NOF Energy annual conference, Energy: A Balanced Future, Hancock said the Government had been listening to representations from industry to improve the fiscal environment for the energy industry.
He also encouraged the sector to work closely with government, including the newly-formed Oil & Gas Authority (OGA).
Energy Minister Matthew Hancock said: “The UKCS is mature, but it is not yet in its twilight years. Through collaboration between the industry and the OGA there can be maximum possible economic recovery.”
Energy: A Balanced Future, which took place at Sage Gateshead in North East England welcoming more than 600 delegates from across the UK and around the world, debated the role of the supply chain in ensuring a balanced energy mix and the challenge to prevent energy shortages in the future.
In addition to discussing the oil & gas sector, and in particular the evolving landscape in the North Sea with presentations from BP and Wood Group PSN, the conference also heard from DONG Energy and the Nuclear Industry Association on offshore wind and the New Nuclear industry.
The conference, which was supported by Platinum Sponsors Invest North East England and Gold Sponsors, Draeger, Teesside University and Arefco Special Products, also held an inaugural debate on the role of future energy resources, such as Deep Geo Thermal, in the energy mix and the opportunities they may present to supply chain companies.
Emphasising the Energy Minister’s comments encouraging companies to continue to explore export opportunities, Energy: A Balanced Future also highlighted international markets with a particular focus on the United States with a presentation from the Greater Houston Partnership and the Greater Oklahoma City Chamber.
Outside of the conference room, the venue hosted a large exhibition with more than 80 UK and international companies showcasing their range of products and services, which are in demand across the energy industry.
George Rafferty, Chief Executive of NOF Energy, said: “The supply chain, which includes around 500 NOF Energy members, is united in supporting the drive for a balanced energy mix and ensuring we do not have a situation where the lights go out.
“Energy: A Balanced Future was a fantastic forum to debate, discuss and engage with the issues facing the industry across the established oil & gas sector through to emerging and future resources that will all have a role to play in ensuring a balanced energy future.
“The Energy Minister was very supportive of the role that NOF Energy is playing to galvanise the supply chain across the energy sectors and the ability of companies in our network to develop disruptive and innovative solutions that will enable the industry to deliver cost-effective and long-term energy supply.”
Energy Minister Matthew Hancock also visited OGN Group‘s facility in North East England.