Oil & Gas UK and East of England Energy Group (EEEGR) have signed a Memorandum of Cooperation (MoC) with the aim of developing a closer relationship, which better serves and promotes the interests of the organizations’ members and the UK oil and gas industry in general, while recognizing the independent and autonomous authorities of each entity.

The memorandum was signed in front of over 500 delegates from across the industry and supply chain at EEGR’s flagship Southern North Sea conference at Norfolk Showground in Norwich.

The two organizations have worked together for many years, arranging joint events, providing speakers for public platforms and sharing information. This MoC recognizes that Oil & Gas UK and EEEGR can together be more effective voices for UK oil and gas business interests through a more formalized cooperation arrangement.

Speaking at the conference, Oil & Gas UK’s Chief Executive, Deirdre Michie, said, “Signing a Memorandum of Cooperation is our commitment to work together in the interests of all our members to increase the visibility of the contribution of East of England oil and gas businesses to the industry, the region and the wider UK economy.”

Simon Gray, chief executive of EEEGR, said the MoC was in the interests of EEEGR’s more than 400 member companies.

“Energy Secretary Amber Rudd’s energy ‘reset’ in November announced up to 50 new gas fired power stations would be built. The gas has to come from somewhere and, from the point of view of energy security; we want that gas to come from our own waters and our own offshore reserves rather than being imported. So, from what the future looks like, the SNS gas basin has never been so strategically important to the UK,” Gray said.

“Whilst we see difficult times ahead in the oil and gas sector, a strategic close cooperation with Oil & Gas UK is something we see as being essential and it also recognizes the importance of our region, the diversity of the supply chain, skills and training facilities and the innovations that can be found in the East of England,” he added.

The main purposes of the memorandum are to:

1. Develop and sustain links between the East of England and other oil and gas industry hubs in the UK, including the North East of England, Aberdeen and the rest of Scotland;

2. Increase visibility of the contribution of East of England oil and gas businesses to the industry, the region and the wider UK economy;

3. Promote greater two-way communication to enhance alignment on and action towards common goals;

4. Identify new and existing opportunities to jointly promote transformational change across the industry.

Deirdre Michie spoke at the event about the potential of the industry in the East of England.

“There are up to three Bbbl still to recover from the waters off East Anglia—a substantial opportunity that can continue to provide jobs; a return on investment, and the supply of gas this country will benefit from,” Michie said. “Also, in excess of £1.5 billion will be spent on decommissioning between 2015 and 2024, according to Oil & Gas UK’s Decommissioning Insight Report—which could become a managed opportunity to the region.”

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