A “tough challenge” awaits if the UK is to replicate Norway’s successes in decarbonising offshore assets, Wood Mackenzie has forecast.
TotalEnergies (LON: TTE) chief executive Patrick Pouyanne has called for an “industry wide solution” to slashing North Sea emissions.
A senior oil and gas figure has warned the industry that its social license to operate is “barely holding out”.
The industry regulator has launched a £1 million competition to help decarbonise offshore oil and gas production.
Integrating renewables with oil and gas operations will be fundamental to cutting emissions and maintaining the North Sea’s social licence to continue producing hydrocarbons.