The 1st October marks a pivotal date for the Oil and Gas Authority (OGA) as we transition into a Government Owned Company, or GovCo, a step designed to reinforce our independence and our ability to act in the interests of the Maximising Economic Recovery (MER) UK Strategy. Since the OGA began we have made clear we believe strongly that the industry is best served by a successful “tripartite” approach bringing together the OGA, industry and the government to collaborate and help create the conditions for a successful next phase of the UKCS.
Today we launch the MER UK in Practice event which gives the OGA the opportunity to further engage with you on how MER UK affects all ‘relevant persons’; offshore licence holders and operators, developers, owners and operators of upstream oil and gas infrastructure and indeed, us the overarching authority, day-to-day, in practice.
While the Strategy has been legally binding since March this year, the new powers granted to the OGA as a government company are a step change in the UK Government’s regulation of our industry as we know it, for example providing access to specific sanctions to enforce MER UK obligations.
We have thought carefully about the agenda to align it to areas of interest for those across industry. Covering the main OGA themes including asset stewardship, exploration, information management, supply chain, decommissioning and technology, attendees will have the opportunity to hear more about what the OGA are asking of you, industry, and what you can expect from us in return as a strong and effective authority.
Achieving MER UK is about much more than a legally binding strategy. It is about transformational change, influencing wider industry cultures and behaviours, encouraging collaboration and promoting the UKCS as a more competitive basin still very much open for business and investment. I look forward to seeing you there.
Stuart Payne is the director for change and organisational design for the OGA.
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