UK Energy Bill starts legislative process

Offshore staff

LONDON, UK — Oil & Gas UK has welcomed the inclusion of an Energy Bill as part of Britain’s 2015–2016 parliamentary legislative session.

New CEO Deirdre Michie said: “This bill will formally establish the Oil & Gas Authority (OGA) as an independent, government company (GovCo). The OGA is a critical catalyst for the work being done to sustain offshore activity [in UK waters].

 “We look forward to receiving further details of this new legislation when the bill is published, that will complete the implementation of Sir Ian Wood’s recommendations for MER UK (Maximising Economic Recovery from the UK continental shelf).

“We are at a critical stage in the history of UK offshore oil and gas development and bold steps need to be taken now to ensure strong activity continues into the future. Oil & Gas UK is dedicated to continuing its engagement with the OGA and HM Treasury, forming a tripartite approach to maximizing economic recovery of the UK’s substantial remaining oil and gas reserves, as recommended in the Wood Report and agreed by all major parties, bringing through the change that is so urgently required.”

5/28/2015

 

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now

Whitepapers

Maximizing Operational Excellence

In a recent survey conducted by PennEnergy Research, 70% of surveyed energy industry professional...

Leveraging the Power of Information in the Energy Industry

Information Governance is about more than compliance. It’s about using your information to drive ...

Reduce Engineering Project Complexity

Engineering document management presents unique and complex challenges. A solution based in Enter...

Revolutionizing Asset Management in the Electric Power Industry

With the arrival of the Industrial Internet of Things, data is growing and becoming more accessib...