UK announces new regulator to maximize energy extraction


The UK has announced that a new regulator, the Oil & Gas Authority, will be established in line with recommendations made as part of Sir Ian Wood’s report “UKCS Maximising Recovery Review.”

The Wood Review has determined steps for the government and the oil and gas industry to take to continue to extract as much energy as possible out of the UK North Sea.

It is reported that the new regulator will be based in Aberdeen and, among other responsibilities, will be tasked with encouraging collaboration between operators and taking advantage of existing ageing infrastructure to support tiebacks and marginal fields.

Welaptega looks forward to working with the Oil & Gas Authority and continued work with UK operators to help support responsible management of aging assets.

Contributor: @T_deGier


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