Securing the long-term future for North Sea energy production
CAMPAIGNS
North sea transition taskforce
Securing the future of the energy Transition in the north sea
The North Sea has been a tremendous asset for the UK since the first modern oil and gas extractions began over 50 years ago. The industry has supported thousands of well-paid and highly skilled jobs, underpinned economic activity right across the UK and has provided over £400 billion of production taxes for the public purse. It is now a mature oil and gas basin, but a new future beckons, one in which the North Sea is a major resource to power a net zero economy, sustaining good jobs and economic activity for the long-term.
The independent North Sea Transition Taskforce report ‘Securing the Future of the Energy Transition in the North Sea’ presents recommendations to the government aimed at ensuring its strategic and sustainable transition from oil and gas production to a renewable energy future.
View the report
CAMPAIGNS
SECURING THE LONG-TERM FUTURE FOR NORTH SEA ENERGY PRODUCTION
The North Sea’s future as an asset for the UK will be undeniably different to its past and present. It has been a critical resource for decades, providing oil and gas for domestic use and export, while supporting the development of new industry and technology.
Now its viable reserves are dwindling, just as the threat to our planet from climate change looms ever larger and the call to move at speed to renewables grows. So, the choice on what to do with the North Sea might seem straightforward. But we stand at a crossroads where the decisions we make will have huge repercussions for the industry, its 200,000 strong workforce and the UK’s energy security.
This paper evaluates the complexities of the transition, paving the way to more strategic decision-making which looks not just at the immediate decisions for management of the North Sea, but the legacy of existing and new forms of energy production.