WIREDGOV

Sir Ian Wood has published his interim report revealing the economic and energy security opportunities still available from the UK’s offshore oil and gas resources.

Sir Ian Wood, recently retired Chair of the Wood Group, a multi-national engineering services company focused on the energy sector, has published his interim report revealing the economic and energy security opportunities still available from the UK’s offshore oil and gas resources. The “UKCS Maximising Recovery Review”, the first of its kind in more than 20 years, was commissioned by the government in June 2013 to look at how we could ensure longevity of the oil and gas industry and the UK’s resources.

Sir Ian’s interim report estimates that full and rapid implementation of his recommendations will deliver at least 3-4 billion barrels of oil equivalent (boe), more than would otherwise be recovered from the UK’s waters over the next 20 years, bringing over £200bn additional value to the UK economy.

Click here for full press release