The Queen's Speech - PwC's head of UK oil and gas comments on the Energy Bill

Published at 15:43 PM on 27 May 2015

PwC comments on confirmation of powers to the Oil and Gas Authority announced in the Queen's Speech

Alison Baker, head of UK Oil and Gas at PwC, said:

“Today's Energy Bill confirms the commitment of the new Government to not only affirm but bolster the powers of the Oil and Gas Authority, a move that will be welcomed by many across the UK oil and gas industry.

Alison baker“It’s clear that acting in silos will make it harder for the sector to extend the life of the North Sea and protect our position as a global energy capital. 

"More innovation and collaboration across industry, academia and the public sector will be vital to develop a long term integrated strategy for the UK continental shelf. The Oil and Gas Authority will have a key role to play in the coming months to drive this change in behaviour.

“Notwithstanding the impact of global oil price volatility, there are challenges ahead.  But hard work and collaboration between industry, Government and the regulator can reap rewards for the oil & gas industry from greater stability to effective cost reduction strategies and enhanced performance and innovation.”

ends

Contact:

Alison Baker, head of UK Oil and Gas

Tel: +44 (0)20 780 43314

Email: Alison Baker

 


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