The North Sea Transition Authority has granted the third tranche of licences in 33rd oil and gas licensing round.
Responding to this, Neil Gordon, chief executive of Global Underwater Hub (GUH), has commented:
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“Sustaining a level of oil and gas exploration and production as part of the UK’s energy mix, alongside offshore renewable sources, is crucial to ensure the nation’s energy security as we continue along the path to net-zero. We should also remember that oil and gas is utilised for many more purposes than just a source of power, including in the manufacture of consumer goods, equipment, components and products, underscoring its economic and societal importance.
“The award of these new oil and gas licences is welcome news for the UK’s world-leading underwater industry supply chain, a sector that we know from GUH’s own 2023 Business Survey remains an essential priority for them. As the country’s energy supply continues to evolve, this announcement provides confidence to the subsea sector as it will help sustain project activity and support the supply chain through this period of evolution.
“The oil and gas sector has made great strides to reduce emissions, not least through the proactive INTOG leasing round where co-located wind turbines would power offshore installations. Adding a clause to these new licences to encourage oil and gas operators and offshore wind developers to work together is extremely positive and further demonstrates how these important sectors can co-exist. Our underwater industry supply chain stands ready to support the delivery of these new projects.”
Global Underwater Hub is the leading trade and industry development body for the UK’s underwater sectors. It represents, promotes and supports a diverse range of member companies operating in the UK’s £8billion underwater industry.
