The new Cabinet appointments announced yesterday by Prime Minister David Cameron come at an important time for the offshore oil and gas industry.
The 2015 Budget was welcomed by industry in the spring as a considered and positive reaction to promoting the regeneration of the UK North Sea and industry is now working to increase efficiency and address its cost base.
As a representative of over 500 companies in this sector, Oil & Gas UK looks forward to a clear and far sighted energy policy which supports the economy in the long term.
Oil & Gas UK’s chief executive, Deirdre Michie, commented: “Oil & Gas UK looks forward to working with the new Government to promote and develop a sustainable future for the industry. We welcome the appointment of Amber Rudd as Secretary of State for Energy and Climate Change; Sajid Javid as Secretary of State for Business, Innovation and Skills; and Greg Hands as Chief Secretary to the Treasury.
“These ministerial positions are absolutely crucial to the ongoing success of our industry, which contributes so much to this country, not only through supplying a secure supply of oil and gas, but through the support of some 450,000 jobs and a £35 billion supply chain which is recognised as world-leading.
“Oil & Gas UK has had good relationships with both the UK and Scottish Governments and looks forward to strengthening this constructive relationship with the new Government.
“In order for the UK to thrive in the long term, energy policy needs to be at the heart of economic policy. We are looking forward to meeting the new Ministers as soon as possible in order to support them in understanding the contribution our industry makes, and to outline the issues we face. For our industry stability is very important, and therefore we also hope to see continuity of office within this new Cabinet.”
Oil & Gas UK today reiterates its call to Government to maintain its focus on the oil and gas industry through continued co-operation. The trade association takes this opportunity to again emphasise the importance of establishing and maintaining a strong tripartite approach to maximising the economic recovery of oil and gas from the UK Continental Shelf.