UK Onshore Oil & Gas: New Era Begins

13Feb / 2013

UK Onshore Oil & Gas: New Era Begins

During the Autumn 2012 the UK government has issued a number of significant statements and announcements, including:

    • The Gas Generation Strategy which recognised the potential, and provided positive support for, shale gas exploration
    • The Chancellor’s Autumn Statement highlighted review of taxation for shale gas to improve the economics of operations

  • A new DECC “Office for Unconventional Gas and Oil” set-up to streamline regulation
  • Lifting of the moratorium on hydraulic fracturing

These key developments will allow UK onshore oil and gas industry is set to expand considerably in 2013 and beyond.

In parallel, the United Kingdom Onshore Operators Group (UKOOG), have recently appointed Ken Cronin as their new chief executive. The appointment is expected to signal the publication of the long awaited UK Onshore Shale Well Guidelines. This document is understood to have now been reviewed by both the Environment Agency and DECC and will be important for both the industry and regulators. UKOOG expects the development of onshore oil and gas projects to be of significant importance to the UK economy.

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