UKCS Maximising Recovery Review Final Report launched

News
24 February 2014 | 00:00–23:59

On 10 June 2013 Edward Davey MP, Secretary of State for Energy and Climate Change, announced a review of UK offshore oil and gas recovery and its regulation, led by
Sir Ian Wood.

The UK’s oil and gas industry is of national importance and makes a substantial contribution to our economy, energy security and employment. 42 billion barrels of oil and gas have already been produced from the UK Continental Shelf (UKCS), and 12 – 24 billion more could still be produced.

So it is vital that we make the most of the huge opportunity that the UKCS continues to represent.

While investment levels are rising and the near-term prospects for the UKCS are strong, as one of the most mature offshore basins in the world, it faces unprecedented challenges in a very different exploration and production environment compared to when production peaked 15 years ago. Thus, this focused in-depth review.

Full report and Ministerial Statement on www.woodreview.co.uk

 

Attempts to stop abortion law changes in Northern Ireland have failed. @jevershed01 evaluates the DUP's strategy an… https://t.co/sBBs3iviqW

9 hours ago

RT @DaniCetra: A very topical academic article ???? 'The Emergence and Transformation of Self-determination Claims in #HongKong and #Cataloni…

9 hours ago

RT @ja_sheldon: Me and @michaelkenny_ have a new blog post on @CCC_Research, trying to explain the Tories' u-turn on divergence between GB…

9 hours ago

RT @UKandEU: Did you catch @anandmenon1 talking about our economic analysis of Boris Johnson's deal on @BBCNewsnight on Friday? The deal…

10 hours ago