We regulate the licensing of exploration and development of the UK’s offshore and onshore oil and gas resources, gas storage and unloading activities in accordance with the Strategy and the UK Government’s target of net zero greenhouse gas emissions by 2050.
We also have a critical role to influence and encourage a culture of greater collaboration, and to promote investment in the UKCS, value creation across the supply chain in the UK and through exports.
Through effective asset stewardship we aim to optimise efficiency and maximise economic recovery and the drive to net zero carbon by 2050, while maintaining high standards of safety and environmental management.
In addition, we support the industry in seeking to reduce its emissions during exploration and production, by maintaining a focus on minimising the amount of flaring and venting and supporting initiatives towards platform electrification. We also assist explorers in searching for potential carbon storage sites.
Assets include licences, prospects, discoveries and infrastructure at all stages in the upstream oil and gas lifecycle. Effective stewardship is achieved when assets are in the hands of those with the will, behaviours and resources consistently to do the right things to identify and pursue opportunities that deliver MER UK outcomes and support the drive to net zero.