Thursday 16 January 2020

The Chairman of the Oil and Gas Authority (OGA) said that the oil and gas industry's ‘social licence to operate’ is under serious threat and there is no scope of a second chance, adding that it must do more to help solve the challenges of climate change and the drive to net zero.

Tim Eggar addressed a group of senior industry leaders at a meeting of the MER UK Steering Group in Aberdeen on 15 January. He called on industry to act much faster and go farther in reducing its carbon footprint. Ahead of the COP26 climate conference later this year, he suggested industry would need to develop a package of measures, including:

- The offshore industry to commit to clear measurable greenhouse gas targets, with real progress on methane.

- To show progress on carbon capture and storage, including work having started on major projects.

- Measurable progress on energy integration opportunities – for example, an electrification project.

- An acceleration of the move to ensure there is a diverse array of skills and people for the long-term energy offshore and supply industry.

He also outlined the OGA’s priority areas going forward and how the OGA will integrate the UK’s net zero ambitions across its core business.