In order to support the oil and gas industry sectors through 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, offshore wind, and decommissioning.
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 joint government and oil and gas sector investment of up to £16 billion by 2030 to reduce carbon emissions. This includes up to £3 billion to replace fossil fuel-based power supplies on oil and gas platforms with renewable energy.