British American Business Speaker Series: Energy - w/the Oil & Gas Authority
Topic: Maximizing Economic Recovery in the North Sea
Join the BABC for an informational luncheon with Andy Samuel, CEO, of the newly formed Oil & Gas Authority (OGA) in the UK. Mr. Samuel was formerly Director of Offshore Europe for BG Group.
The Oil and Gas Authority is a new regulatory body charged with maximising the economic recovery of the UK’s oil and gas resources. The OGA is designed to support industry in successfully meeting the challenges and opportunities of the next phase of UK North Sea production. While investment levels are rising and near-term prospects are strong, there are new challenges for exploration and production, and the operating environment is very different to when production peaked approximately15 years ago. In recent years production and exploration levels have fallen, and production efficiency has declined. Through the OGA, Government and industry will adopt a new, more collaborative, approach to stewardship of the UKCS, creating the right environment for maximising economic recovery.