Oil firms said to support positive change

THE North Sea oil and gas industry has made good progress in its efforts to support the drive to achieve net zero in terms of carbon emissions amid the challenges posed by the coronavirus crisis, sector leaders have claimed.

Trade body Oil & Gas UK said the industry had already taken a wide range of the actions it felt were required to ensure it played an effective part in the transition to a low carbon economy.

The actions were laid out in the Roadmap 2035 strategy that the organisation published last year in response to the commitments made by the UK and Scottish Governments to cut carbon emissions to zero net of amounts absorbed, by 2050 and 2045 respectively.

Oil & Gas UK said the roadmap committed the sector to a range of actions to help meet the UK’S energy needs, support jobs, develop new technologies, cut emissions, and expand export opportunities.

The organisation’s chief executive Deirde Michie said: “Despite the challenges heaped on the sector by the coronavirus pandemic and low oil and gas prices, a number of actions of Roadmap 2035 have already been delivered and many more are underway.

“This progress is testament to the fact that our industry is changing and is committed to positive change for the long term.”

Oil & Gas UK said eight of the 60 actions listed in the roadmap have already been delivered. Progress has been made towards delivering a further 20.

The actions delivered include the development of targets for the reduction of emissions associated with production, along with work to assess the potential to use renewable energy to power offshore facilities.

In terms of actions that are underway, Oil & Gas UK highlighted the work being done in areas such as the development of carbon capture, usage and storage and hydrogen fuel technology.

Ms Michie cautioned: “Support of government and regulators remains critical if we are to be able to realise our full potential through the energy transition.”