The North Sea has the potential to become a “clean energy super basin,” integrating oil, gas, offshore wind and carbon storage to drive the UK’s energy transition, according to NSTA Chief Executive Stuart Payne.
Speaking at the Offshore Energies UK’s annual conference in Aberdeen today, Mr Payne emphasised that the oil and gas industry has the resources and infrastructure to transition into a cleaner future while continuing to support the UK’s energy needs.
“The North Sea has the natural resources – up to five billion barrels of oil and gas, a 60GW target for offshore wind, and up to 78GT of carbon storage potential,” Payne noted.
He highlighted the key role of integrating different energy systems, where existing oil and gas hubs can be repurposed to work alongside renewable energy sources.
“By integrating these systems, we make a virtue of what is currently a challenge – how to co-locate different technologies in the same small space of sea,” Stuart Payne explained.
He acknowledged the challenges posed by declining oil and gas production but stressed that the energy transition presents an opportunity for the North Sea to thrive.
“If we get this right, the next chapter of the North Sea can be its best chapter,” Payne said.
He also emphasised the critical need for safety, emissions reduction and timely well decommissioning to ensure the industry’s future credibility.
The speech also touched on the importance of diversity in the workforce, noting that the industry must appeal to a broader range of talent to succeed.
“We are going to need the best team possible to be successful,” Mr Payne said, calling for greater inclusion in an industry traditionally dominated by men.
As the North Sea approaches its next phase, Mr Payne urged the industry to embrace the transition while maintaining focus on the “basics” of safety, environmental responsibility, and diversity.
“Get the basics right, and the next chapter can be the safest, cleanest, and most exciting in the North Sea story.”
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