Working together for a better future
15 Apr 2014
Following Sir Ian Wood’s report on the future of UK oil & gas, industry collaboration in the North Sea has been pushed to the top of government priorities for the sector.
Better stewardship of the UK Continental Shelf (UKCS), especially through greater collaboration among operators, could help enable the recovery of an extra four billion barrels of oil equivalent (boe) - worth £200 billion - on the UKCS over the next 20 years.
This was the conclusion of Sir Ian Wood’s February report, known as the Wood Review, which maps out a new stewardship regime for the industry.
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