ENERGY NEWS
11
FEBRUARY 2022
UK NORTH SEA
Energy Review By Tsvetana Paraskova
The government’s launch of a consultation on the climate compatibility of new oil and gas projects, the gas price surge and its effect on energy bills, and a lot of drilling and development updates marked the first few weeks of 2022 in the UK North Sea oil and gas industry.
The organisers of the SPE Offshore Europe conference, which was scheduled to be held live in Aberdeen in early February, was postponed and the full conference and exhibition was rescheduled to 5-8 September 2023. The decision for the postponement was taken in early January, due to the Covid situation and in line with the Scottish Government guidance on the situation. “We will have discussions with industry and our stakeholders about the possibility of holding an event focused on the energy transition in Aberdeen later in 2022. This would build on the extensive, high-quality content that we had lined up for February to support a fair energy transition,” Jonathan Heastie, Portfolio Director – Energy & Marine at RX (Reed Exhibitions), co-organiser with the Society of Petroleum Engineers (SPE) of SPE Offshore Europe, said. But Subsea Expo, the world’s largest annual subsea exhibition and conference, is set to go ahead and be held live as it returns to Aberdeen at P&J Live, 22 - 24 February 2022. The UK High Court ruled in January in favour of the Oil and Gas Authority (OGA) in a lawsuit brought last year by environmental campaigners, who had argued that OGA’s strategy of maximum economic recovery of petroleum while supporting the net-zero emissions goal by 2050 was “unlawful” and “irrational”. Justice Cockerill dismissed the case of the environmentalists, rejecting “the contention that the Strategy is unlawful because the definition of "economically recoverable" was irrational.” OGA welcomed the judgment and said “We remain firmly focused on regulating and influencing the oil, gas and carbon storage industries to both secure energy supply and support the transition to net-zero.”
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