July 9, 2020

The UK’s offshore oil and gas industry has today welcomed the Chancellor’s announcement of support for employers, including the Job Retention Bonus and moves to support more traineeships and jobs for young people.

The leading representative body for the sector OGUK said that the UK faces a once-in-a-lifetime opportunity to deliver moves to a lower carbon and more diverse energy mix, reinforcing the importance of the sector deal currently being discussed with the UK Government.

OGUK Chief Executive Deirdre Michie said:

“The Chancellor’s announcement provides welcome support for companies in the UK’s offshore oil and gas industry affected by the immediate impact of the coronavirus pandemic. The continued volatility facing our sector however underlines the need for long-term and targeted support. In devastating circumstances the UK now faces a once-in-a-lifetime opportunity to realise an energy transition which delivers affordable energy, supports jobs and enables our industry to put our skills to work to help cut emissions.

“Industry’s Roadmap 2035 offers a sensible blueprint which keeps net zero firmly on the agenda while also supporting energy communities to embrace new opportunities including carbon capture and hydrogen.

“Today’s funding for Direct Air Capture of CO2  is a welcome step in the right direction as part of the wider development and roll-out of Carbon Capture and Storage, and we look forward to continuing our work with government to realise the full potential of our sector in delivering the UK’s energy future.”