Making oil last ‘key’ to UK’S green target

Making North Sea oil last “an additional generation” is key to meeting the UK’S climate change targets, a new report by Oil & Gas UK has said.

The research into the future of the offshore oil and gas sector argues the UK’S “comparative advantage in offshore technology” should help form part of a long-term energy strategy, along with carbon capture projects and a focus on hydrogen power. A combination of reduced energy demand and the changing energy sources mean the UK has already met its carbon emission reduction target for 2020, according to the report.

But setting out a longer term strategy, it highlights the need for the industry to embrace innovation and says “developing carbon capture and storage [technology] and the hydrogen economy based on oil and gas industry expertise has the potential to make the UK a global leader”.