The central role played by the UK offshore oil and gas industry in the health of the economy, energy security, employment and innovation remains compelling, despite the challenging business environment. Indigenous oil and gas production satisfies more than a third of our nation’s energy needs, while tens of billions of pounds of expenditure are attracted and many hundreds of thousands of people are employed in operations.
Presented with the combined challenges of high costs, declining efficiency and low oil prices, the sector has committed wholeheartedly to fortifying itself. The industry is employing fresh thinking and new approaches in order to improve efficiency and strengthen its competitiveness in the global market so that it is well-positioned to maximise the economic recovery of the more than 20 billion barrels of oil and gas estimated to remain around the British Isles.
Oil & Gas UK, as the leading trade association for the UK offshore oil and gas industry, is the vanguard of many industry initiatives to improve the UKCS business environment, to attract investment and enhance its safety performance. The Association runs events throughout the year on a range of topics to familiarise industry professionals with the latest developments in an industry that is constantly innovating and evolving to address technical, operational or corporate issues.