This week’s UK industry talks in Aberdeen have seen Ed Davey, the UK Secretary of State for Energy & Climate Change, meeting with industry leaders to discuss the state of the UKCS.
Mr Davey has asked Andy Samuel of the Oil and Gas Authority to take the lead on an urgent industry commission to identify risks to UKCS production and remedial measures, which will include government support.
This work will be designed to complement the strategic analysis that is being led by the Oil and Gas Authority.
Ed Davey said that the UK oil and gas industry was used to global price volatility and would be well placed to survive the current downturn.
However, he said the government was aware of the strategic importance of the industry to the nation and the difficulty of its relatively high cost base, which meant that work was needed to prepare it for the future.
The industry commission being led by Andy Samuel is expected to provide its early findings next month.Last updated on 03:38PM - 22/01/15