UK: MER strategy cornerstone of approach to extraction of oil & gas resources

Oil & Gas UK has welcomed the formal launch of a consultation on a Strategy to Maximise the Economic Recovery of the North Sea (MER UK) which defines how the new Oil and Gas Authority will work with industry and across Government to deliver maximum value from Britain’s offshore oil and gas resource.

It also welcomed Energy and Climate Change Secretary Amber Rudd’s Wednesday announcement of an energy policy with energy security at its heart, with gas playing a central role in future power generation.

Oil & Gas UK notes also that the Government and industry regulator’s commitment to Maximising Economic Recovery from the UK Continental Shelf (MER UK) is consistent with a programme of progressive decarbonisation, and meeting all targets and international obligations, as the basin matures.

Oil & Gas UK’s chief executive Deirdre Michie said: “The Maximising Economic Recovery (MER) UK strategy will form the cornerstone of the tripartite approach being taken by the new Oil and Gas Authority, HM Treasury and the industry to extraction of the UK’s oil and gas resources.

“The Secretary of State for Energy stated that energy security has to be the number one priority and that gas will play a key role in powering our future economy. It makes sense therefore to make the most of the country’s own resources and the MER UK strategy, in tandem with the creation of the new Oil and Gas Authority, is designed to do just that. There are up to an estimated 20 billion barrels of oil and gas to be recovered from our offshore waters, around eight billion barrels of that is natural gas.

“In addition, the carbon footprint of UK production is somewhat lower than many imported sources. Therefore, the UK is not undermining or jeopardising its carbon targets if we produce rather than import the gas this country needs.

“The Government’s commitment given today to help provide the right business environment for its recovery sends the right signals to investors in Britain’s oil and gas industry and will help foster technology innovation and preserve hundreds of thousands of highly skilled jobs in the supply chain across the country, as well as contributing to energy security of supply.

“We look forward to engaging fully with industry and Government on the Strategy consultation.”

Share this article

Follow Offshore Energy Today

Events>

<< Sep 2019 >>
MTWTFSS
26 27 28 29 30 31 1
2 3 4 5 6 7 8
9 10 11 12 13 14 15
16 17 18 19 20 21 22
23 24 25 26 27 28 29
30 1 2 3 4 5 6

OilComm 2019

OilComm is a place where major players in energy, maritime, and transportation communities come together…

read more >

Uganda International Oil and Gas Summit 2019

Uganda International Oil & Gas Summit will once again examine the industry’s developments…

read more >

Argentina Oil and Gas Expo 2019

The Argentine Oil and Gas Institute (IAPG) organizes the Argentina Oil & Gas Expo bringing together the most…

read more >

OEE Conference & Exhibition 2019

OEE2019 is organised by Ocean Energy Europe, the industry association representing ocean energy in Europe.

read more >

Jobs>

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply