Over the past 50 years, the UK continental shelf (UKCS) has grown to become one of the world’s most diverse and technologically advanced basins with a successful track record of developing and deploying new technologies. Despite a fluctuating oil price, investment in technology presents significant opportunities to improve Opex and Capex efficiencies, reserve recovery and create value through supply chain exports.
This week the OGA published its Technology Strategy, a key step in setting out how the OGA, the government and the industry should work together and leverage technology to Maximise Economic Recovery (MER) from the UKCS and grow exports of the UK-based supply chain.
The Technology Strategy has three aspects:
- Keep technology priorities of the UK oil and gas industry aligned and focused on the areas of highest value for the UKCS
- Support progress in developing, testing and deploying technologies, working closely with the new Oil and Gas Technology Centre (OGTC)
- Oversee efforts by the industry in technology and innovation via the direct engagement of licence holders on Technology Plans, performance benchmarking, knowledge sharing and technology deployment campaigns, in line with the supporting obligation of the MER UK Strategy.
The strategy will be delivered in close collaboration with the Technology Leadership Board (TLB), the OGTC and a wide group of stakeholders in government, industry, and research organisations.
Join the OGA’s MER UK in Practice event on October 25 to find out more about how the OGA, TLB and OGTC are working together to stimulate a significant transformation in the UK oil and gas industry and the UKCS.
Register here. Download the technology strategy here.
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