News story: Greater security for North Sea Oil and Gas as Energy Bill becomes law

The Energy Act is designed to help drive forward the government’s energy goals and commitments. This includes new powers for the Oil and Gas Authority (OGA) to better support North Sea industry, giving local communities the say on new onshore windfarm planning decisions and bringing forward the closure of costly subsidies for new onshore wind developments across Great Britain.

The OGA is being established on the recommendations of the Wood Review into North Sea Oil and Gas, in order to maximise collaboration and management of resources from the UK Continental Shelf.

Secretary of State for Energy and Climate Change Amber Rudd said:
"The Energy Act is a vital part of our plan to ensure our families and businesses have access to secure, affordable and clean energy supplies they can rely on, while keeping bills down."

"By strengthening the Oil and Gas Authority and giving it powers to drive greater collaboration and efficiency in the industry, this Act shows that the broad shoulders of the UK are committed to helping our oil and gas industry attract investment, support jobs and remain competitive for the future."

Andy Samuel, Chief Executive of the OGA said:
"We welcome the news that the Energy Bill has now received Royal Assent. This is an important step in establishing the OGA as an independent government company with the necessary powers, working closely with the industry and government to help maximise the economic recovery of the UK’s oil and gas resources."

 

Source: Department of Energy and Climate Change
Date: May 12, 2016