Sir Ian Wood sought to clarify his views on how much oil is left in the North Sea at awards ceremony in Aberdeen last night.
Sir Ian Wood, whose intervention in the independence debate caused such a stir after he questioned Scottish Government figures for future oil production, said the electorate had "chosen the best of both worlds".
Chancellor George Osborne will today announce plans for a “game changer” tax break to boost North Sea oil and gas exploration.
Exploration in the North Sea has continued to plummet due to ever spiralling costs and firms taking a “wait and see” approach to new regulation and taxes, new research has found.
Oil and gas chiefs have welcomed a £15million contribution from the UK Government towards the cost of a new industry regulator.
The £15million funding by the UK Government towards the new energy regulator will ensure the body can address the industry's needs as soon as possible, believes a Scotland Office Minister.
Funding of £15million to help kick-start a new independent regulator for the North Sea oil and gas industry has been announced by the UK government.
Last week I was pleased to chair the very first Oil & Gas UK Annual Conference.
The biggest asset of the new oil and gas regulator will be its ability to stimulate collaboration, believes Sir Ian Wood.
Alex Salmond has told oil and gas leaders that the Scottish Government will part-fund a new offshore regulator in an independent Scotland.
Oil and gas representatives and government figures discussed the progress the sector has made towards putting the UK Continental Shelf (UKCS) activity back on track at the first Oil & Gas UK conference.
The release of Sir Ian Wood’s report in February marked a seminal moment in the history of the UK Continental Shelf (UKCS).
Xcite Energy has become one of the first firms to get into the spirit of the Wood Review by pushing for the development of the area around its Bentley Field. Sir Ian Wood wants a new regulator to be given additional powers to ensure that all licence holders act in a way that is consistent with maximising UK recovery. That includes increased collaboration between companies, particularly around access to infrastructure, and improved data sharing.
Oil services companies in Aberdeen are set to follow the lead of Wood Group PSN, which announced plans to slash rates it pays to contractors 10% in an effort to cut spiralling costs.
Aberdeen could lose the new oil regulator being set up in the wake of the Wood Review to Newcastle if Scotland votes for independence.
In many respects, however, the fiscal changes discussed are the most straightforward to implement. More challenging may prove to be the legal and regulatory innovations that the Review proposes.
Scottish offshore excellence will once again be showcased on the world stage at this year’s Offshore Technology Conference (OTC) in Houston, which I also have the pleasure of attending as Energy Minister for the third year.
Plexus Holdings has won a contract extension worth £900,000 to provide well head equipment and services to Centrica Energy Norway.
The Department of Energy and Climate Change is “not hanging about” as it puts in place the new energy regulator as proposed in a report on the North Sea led by Sir Ian Wood.
As the last edition of Energy went to press, the ink was barely dry on the final report of Sir Ian Wood's Maximising Recovery Review and the political bandwagon was still in town.
Sir Ian Wood has told oil bosses that the industry needs a “superman” to come forward and lead the new regulator which will govern the North Sea.
The first public event featuring Sir Ian Wood since the publication of his review of the UK Continental Shelf has sold out.
EXCLUSIVE: The European boss of Amec has warned that the oil and gas industry must do more to secure the future of supply chain firms.
The oil and gas industry enjoyed a seminal moment late last month.
The "biggest technology brains on the planet" are set to gather in Aberdeen next week to discuss ways of maximising potential of the UK Continental Shelf.