Calendar An icon of a desk calendar. Cancel An icon of a circle with a diagonal line across. Caret An icon of a block arrow pointing to the right. Email An icon of a paper envelope. Facebook An icon of the Facebook "f" mark. Google An icon of the Google "G" mark. Linked In An icon of the Linked In "in" mark. Logout An icon representing logout. Profile An icon that resembles human head and shoulders. Telephone An icon of a traditional telephone receiver. Tick An icon of a tick mark. Is Public An icon of a human eye and eyelashes. Is Not Public An icon of a human eye and eyelashes with a diagonal line through it. Pause Icon A two-lined pause icon for stopping interactions. Quote Mark A opening quote mark. Quote Mark A closing quote mark. Arrow An icon of an arrow. Folder An icon of a paper folder. Breaking An icon of an exclamation mark on a circular background. Camera An icon of a digital camera. Caret An icon of a caret arrow. Clock An icon of a clock face. Close An icon of the an X shape. Close Icon An icon used to represent where to interact to collapse or dismiss a component Comment An icon of a speech bubble. Comments An icon of a speech bubble, denoting user comments. Ellipsis An icon of 3 horizontal dots. Envelope An icon of a paper envelope. Facebook An icon of a facebook f logo. Camera An icon of a digital camera. Home An icon of a house. Instagram An icon of the Instagram logo. LinkedIn An icon of the LinkedIn logo. Magnifying Glass An icon of a magnifying glass. Search Icon A magnifying glass icon that is used to represent the function of searching. Menu An icon of 3 horizontal lines. Hamburger Menu Icon An icon used to represent a collapsed menu. Next An icon of an arrow pointing to the right. Notice An explanation mark centred inside a circle. Previous An icon of an arrow pointing to the left. Rating An icon of a star. Tag An icon of a tag. Twitter An icon of the Twitter logo. Video Camera An icon of a video camera shape. Speech Bubble Icon A icon displaying a speech bubble WhatsApp An icon of the WhatsApp logo. Information An icon of an information logo. Plus A mathematical 'plus' symbol. Duration An icon indicating Time. Success Tick An icon of a green tick. Success Tick Timeout An icon of a greyed out success tick. Loading Spinner An icon of a loading spinner.

Opinion: OGUK’s chief executive on sector’s future

Oil and Gas UK chief executive Deirdre Michie
Oil and Gas UK chief executive Deirdre Michie

Ahead of the Scottish Parliament’s Economy, Energy and Tourism Committee evidence session on the future oil and gas prospects for Scotland, Oil and & Gas chief executive, Deirdre Michie, says the future will be decided now.

The UK oil and gas industry has fostered innovation, supported energy security and skilled employment and generated significant economic benefits across the country for the last fifty years.

While the UK Continental Shelf has benefitted from strong investment over recent years, the future is less certain with severe cost inflation and the extended period of low oil prices together putting enormous pressure on the industry.

This is an opportunity to give evidence to decision makers in Holyrood about what industry is doing to overcome the significant challenges that it faces and also to reinforce the opportunity that remains for this important sector.

Government figures show continued demand for our product, as oil and gas will continue to provide some 70% of our energy in 2030 and beyond. With billions of barrels still to be extracted from the UK continental shelf, and a supply chain worth over £39billion, we have the capability to maintain a significant contribution to Scotland and the UK.

The future over the next fifty years is in the hands of the industry, governments and regulators. The industry is focused on taking action to do business smarter and pursuing cross industry efficiencies through the Oil & Gas UK-led Efficiency Task Group.

Alongside the industry’s efforts to improve its’ efficiency, continued co-operation between the sector, its regulators and governments will be vital to achieving a sustainable, safe and competitive sector capable of maximising economic recovery of the UK’s oil and gas.

Recommended for you


More from Energy Voice

Latest Posts