The UK offshore industry's new regulator is to be named the Oil and Gas Authority and will be based in Aberdeen, the UK's Chief Secretary to the Treasury announced in the Scottish city today.
Rt Hon Danny Alexander MP also opened the second day of industry body Oil & Gas UK’s first Annual Conference in Aberdeen.
In doing so, he outlined the UK Government’s vision of the future of the oil and gas industry. and said the North Sea was a "hugely important asset to our country."
Malcolm Webb, Oil & Gas UK’s chief executive (pictured), said: “The new regulator is now much more than just a vision or a theoretical construct. It is beginning to take shape, with a name, a location and – as we heard at the conference yesterday – the search for the new chief executive is underway. This is all very good news for our industry and we look forward to the creation of the new regulator over the coming weeks and months.”
The event also heard from Sir Ian Wood who, drawing from presentations by the Dutch, Danish and Norwegian authorities, summarised aspects of these regimes which, in his view, the new regulator could learn from.
Read more:
All eyes on the North Sea - Sir Ian Wood launches the Wood Report
Subscribe
