Investing on the UKCS

The UK Continental Shelf (UKCS) has a rich history of hydrocarbon exploration and production success.

The current economic climate

The sharp decline in oil prices since June 2014 is affecting companies operating on the UKCS. These conditions have understandably led to companies, and their investors, re-evaluating their business in the UK.

We will do everything possible to make sure this vital UK sector receives the right support, working with government and the industry to address the immediate situation, while delivering further priorities that help bridge to the future. To that end, the OGA wants to maintain confidence in existing investment, prevent the unplanned removal of capital, and attract new investment into the basin.

Promoting investment and attracting new sources of capital

The OGA is working to attract new and diverse sources of long-term capital funding and working with investors to identify the barriers to investment and working with government to mitigate these.

Whether you are an existing investor, interested part or are just looking for more information on the UKCS, please contact us at oga.correspondence@ogauthority.co.uk

 

 

Mitigating barriers to investment

Mitigating barriers to investment

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"The North Sea is an attractive place to invest and from a group perspective we’re not standing still with these projects. We have an exploration programme to try to find the next big development.”

Mark Thomas
BP, North Sea Regional President

May 2017

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“It shows in my mind that what the UK Government has been doing by improving the tax environment that we enjoy in the North Sea, and making it easier from a regulatory perspective to transfer late life assets to others is working. That is exactly what is needed to give the North Sea a new lease of life.”

Ben van Beurden
CEO, Shell

February 2017

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“The North Sea has undergone a revolution in recent times with operating costs falling to competitive economic levels, and we believe this signals a moment for a generational change in the basin.”

Linda Cook
Chair, Chrysaor Ltd

January 2017