In order to support the oil and gas industry sectors cope with the energy transition, the UK government has vowed to support workers, businesses and the supply chain by harnessing the industry's existing capabilities, infrastructure and private investment potential to exploit new and emerging technologies such as hydrogen production, Carbon Capture Usage and Storage (CCUS), offshore wind and decommissioning.
The deal is expected to cut emissions by up to 60 million tones by 2030 including 15 million tones from oil and gas production on the UK Continental Shelf while supporting up to 40,000 jobs across the supply chain.
Extracting oil and gas on the UK Continental Shelf is directly responsible for around 3.5% of the UK’s greenhouse gas emissions. Through the package of measures, the deal is expected to cut pollution by up to 60 million tonnes by 2030 including 15 million tonnes from oil and gas production on the UK Continental Shelf - the equivalent of annual emissions from 90% of the UK’s homes - while supporting up to 40,000 jobs across the supply chain.
Key commitments in the North Sea Transition Deal include:
- by 2030, 50% of the sector's offshore decommissioning and new energy technology projects will be provided by local businesses, helping to anchor jobs to the UK;
- the appointment of an Industry Supply Chain Champion who will support the coordination of local growth and job opportunities with other sectors, such as CCUS and offshore wind.
- setting early targets to reduce emissions by 10% by 2025, 25% by 2027, and 50% by 2030