23 July 2013
Waveney MP Peter Aldous last week attended the first meeting of the cross party Oil and Gas Group, which has the purpose of highlighting the importance of using UK contractors in future offshore investments in the UK Oil and Gas Industry.
The formation of the Group which is chaired by former Energy Minister Charles Hendry comes at an exciting time for the UK’s offshore oil and gas industry and its extensive supply chain.
With over 50 major investment opportunities expected over the medium term and a record UK Continental Shelf (UKCS) investment of up to £18 billion anticipated during 2013, the Group’s main role will be to engage with the oil and gas industry in the early stages of contract negotiations, aiming to capture as much of this prosperity as possible for Britain, and in turn boosting employment and creating jobs. This initiative is particularly relevant for East Anglia, the Aberdeen area and the North East.
In addition to the economic importance, maximising recovery of the UK’s indigenous supplies of oil and gas will also help maintain security of energy supply and pave the way for a low-carbon future.
The group will call on oil and gas industry representatives at frequent intervals to give evidence and explain how they are giving companies every opportunity to win contracts. The group will encourage the industry to make full use of the skills and services available, especially where they are receiving support for UK tax payers for their field developments.
Mr Aldous commented:
“I am pleased to be involved in this group; the first meeting was particularly helpful in developing an initial work plan, in view of maximising the economic potential of UKCS projects in the future. The group will aim to make a lasting difference to maximising the benefits of oil and gas reserves and I look forward to representing the interests of businesses involved in the sector in the Waveney area and meeting them in the coming weeks, so that I can obtain a full picture of what they have to offer and can do what I can to bring jobs to the area.”
The UK’s oil and gas industry is of national importance and makes a substantial contribution to the UK’s energy security. For decades the oil and gas sector has been one of the UK’s major industrial success stories, a key contributor to growth, jobs and tax revenue.
The formation of the Group which is chaired by former Energy Minister Charles Hendry comes at an exciting time for the UK’s offshore oil and gas industry and its extensive supply chain.
With over 50 major investment opportunities expected over the medium term and a record UK Continental Shelf (UKCS) investment of up to £18 billion anticipated during 2013, the Group’s main role will be to engage with the oil and gas industry in the early stages of contract negotiations, aiming to capture as much of this prosperity as possible for Britain, and in turn boosting employment and creating jobs. This initiative is particularly relevant for East Anglia, the Aberdeen area and the North East.
In addition to the economic importance, maximising recovery of the UK’s indigenous supplies of oil and gas will also help maintain security of energy supply and pave the way for a low-carbon future.
The group will call on oil and gas industry representatives at frequent intervals to give evidence and explain how they are giving companies every opportunity to win contracts. The group will encourage the industry to make full use of the skills and services available, especially where they are receiving support for UK tax payers for their field developments.
Mr Aldous commented:
“I am pleased to be involved in this group; the first meeting was particularly helpful in developing an initial work plan, in view of maximising the economic potential of UKCS projects in the future. The group will aim to make a lasting difference to maximising the benefits of oil and gas reserves and I look forward to representing the interests of businesses involved in the sector in the Waveney area and meeting them in the coming weeks, so that I can obtain a full picture of what they have to offer and can do what I can to bring jobs to the area.”
The UK’s oil and gas industry is of national importance and makes a substantial contribution to the UK’s energy security. For decades the oil and gas sector has been one of the UK’s major industrial success stories, a key contributor to growth, jobs and tax revenue.
