The chief executive of the newly formed Oil and Gas Authority (OGA) has taken up his new role.
Andy Samuel was appointed in November last year following the establishment of the independent body.
Its creation was an integral part of the recommendations made by Sir Ian Wood as part of a review into maximising the UK’s offshore oil and gas resources.
Mr Samuel said: “I am excited to officially start this role and I remain confident that there is a strong future for the UK’s oil and gas industry recognising the current challenging times.
“From the outset, the OGA will need to work very closely with industry and Government as we work to make a rapid start on maximising economic recovery for the UK.”
The Wood Review stated that full and swift implementation of its recommendations could lead to an additional 3-4 billion barrels of oil equivalent being produced over the next 20 years.
Mr Samuel has been given a three-year contract for the job, in which his early priorities will be to establish the OGA in its Aberdeen headquarters and ensure it has the right people to perform.
In July the government pledged £15million to help kick-start the new independent regulator for the North Sea oil and gas industry.
The Oil and Gas Authority (OGA), which is to be based in Aberdeen, will receive £3million a year for five years from 2016-17.
Energy and Climate Change Secretary Ed Davey said:“The Government continues to implement the Wood Review recommendations as quickly as possible, and Andy taking up this role is another important step forward in ensuring we make the most of our domestic oil and gas resources and bolster the UK’s energy security .”
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