The UK government is set to provide fresh environmental guidance to North Sea oil and gas operators.
The new guidance is intended to support industry stability, protect employment and supporting investment while being aligned with the government’s clean energy goals.
Of course, the general trends are still toward a decline in the North Sea oil and gas sector. The sector has seen a long-term downturn in production over the past fifty years.
This also comes at a time when UK-based Serica Energy is considering moving from its setup in the North Sea to a Nordic country due to high taxation.
June saw the UK supreme court rule that planning authorities are obliged to evaluate fossil fuel extra projects based on their downstream greenhouse gas emissions. This way planning permission is affected by fossil fuel use to a greater extent.
Rulings such as these could support growth of a greener energy system that utilises renewable energies. However, there is a risk of job loss in applicable sectors including the North Sea oil and gas sector.