1. Attracting Investment:
- Promote inward investment and raise the profile of UK E&P to potential investors through international trade fairs and targeted approaches.
2. Deliver Future Activity:
- Assist the OGA in updating the UKCS Yet-To-Find estimation.
- Ensure methodology is defendable and independently verified through subject matter experts
- Publish results in Annual Reserves & Resources Report and ensure results are effectively communicated to all relevant stakeholders
3. Optimise Licensing Regime:
- Ensure long-term plan in place for the optimal use of the UK’s acreage through licensing activities and stewardship
- Seek to improve predictability, efficiency and duration of licencing round process
- Support OGA with ongoing licensing rounds and ensure fit for purpose data packages of regional analysis, seismic and well data is published
4. Promote Regional Exploration:
- Support delivery and promote funding of multi-year Petroleum Systems Project, a collaborative project to update our understanding of the Petroleum Systems of the UKCS
- Ensure the Petroleum Systems Project produces useful and valuable deliverables to industry and that the business case is effectively made to ensure that the match funding mechanism is successful
5. Support Technological Innovation and Data Release:
- Ensure timely delivery of OGTC Machine Learning Northern North Sea Missed Pay project and that results are effectively published. Consider upscaling to other areas and basins in the future
- Support delivery of National Data Repository and improvements to data release mechanism (i.e. seismic and wells)
- Deliver on TLB challenge of using digital technology to unlock 50 years of knowledge and existing data:
- Short term priority 1: Produce a standard, open-source tool/code to automate the identification of potential DHIs in diverse seismic datasets, using well calibration.
- Short term priority 2: Use AI workflows to cleanse all structured and unstructured well data in the National Data Repository to deliver a standardised dataset to industry.
- Ensure close collaboration with the TLB and OGTC