Boss of Aberdeen Grampian Chamber of Commerce Russell Borthwick has welcomed news that the door has been left open for further North Sea drilling as uncertainty over gas supplies increases due to the Russia-Ukraine crisis.
The chairman of the Oil and Gas Authority (OGA) underlined the importance of the North Sea to the energy transition during an event in London yesterday.
North Sea oil and gas firms are being warned they will need to become โwholly differentโ if they want to retain their position in the structure of the UKโs economy.
The number of jobs in the North Sea energy sector could fall by 20% in the coming years without โurgent investmentโ in offshore net zero solutions.
The Committee on Climate Change (CCC) has announced plans to publish a blueprint before the end of the year laying out the path for the UK to achieve net-zero.