Group CEO comments on landmark transition agreement
Posted: March 24, 2021
The views of Group CEO, Proserv, David Currie have today featured prominently in a global press statement released by Oil & Gas UK (OGUK), a leading representative body for the UK offshore oil and gas industry, in the wake of a major announcement by the UK government concerning the North Sea Transition Deal.
The deal represents a transformative agreement between the UK government and the nation’s oil and gas industry. It is the first of its kind by any G7 country and it is intended to provide a template for how countries with active oil and gas industries can move “towards a lower carbon future in a way which supports the economy, jobs, and energy communities”.
The wide-ranging initiative will target climate change as a core priority, with £16bn earmarked to help the reduction of carbon emissions by 2030, with the investment coming via government and industry sources. The UK sector has committed to reducing emissions by 50% by 2030.
Another key component is the goal of securing up to 40,000 jobs across UK industrial heartlands, with the aim of supporting the transition of communities such as Aberdeen and Teesside, retaining skills and expertise in the process.
Investment will also be channelled towards carbon capture and storage, as well as exciting plans for future hydrogen production.
“As our industry, and companies like Proserv, make advancements in the evolving energy business through utilising new and existing technologies, with key initiatives supporting the energy transition, the announcement of the North Sea Transition Deal is tremendous news.
“It is an innovative and transformational partnership that further enables us all and supports the journey we have firmly embarked upon. The transition and this partnership are critical, as they concern bringing the present into the future, while harnessing and enhancing skills and expertise accrued over many years. It is inspiring to see our industry, our leading industry body and the government come together to take this powerful step.”