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REPORT CHARTS PILOT'S PROGRESS IN UK OFFSHORE OIL AND GAS INDUSTRY
| Date: | 09 Jun 2004 | | Details: | PILOT, the joint government industry "think tank" for the UK offshore oil and gas industry, today publishes its annual report on the organisation's activities in 2003.
The report, The Work of PILOT in 2003, highlights progress in a number of initiatives launched since 2000 when PILOT was created to improve North Sea competitiveness and maintain the UK as a pre-eminent centre for oil and gas production and supporting services.
It also charts the progress towards the PILOT vision for the North Sea in 2010, which includes sustaining capital investment at £3 billion a year and oil and gas production at 3 million barrels of oil equivalent per day (boepd).
In the report's foreword, Stephen Timms, minister for Energy and chair of PILOT, says:
"PILOT is now in its fifth year and, in bringing together offshore operators, contractors, suppliers, unions and relevant Government departments, continues to have a strong influence on Government policy and Industry practices in the oil and gas sector.
"While the current level of capital investment in the UK continental shelf is expected to remain strong, forecasts suggest that meeting PILOT's 2010 production target of 3 million boepd is becoming more challenging. We need to work quickly to influence this. Production costs are rising and exploration is at an all time low.
"We've dealt with some tough challenges in the past. But it will only be by continuing to work together through PILOT, with an increased collective sense of urgency, that Government and Industry can overcome the barriers to further activity and find the innovative solutions that will help unlock the UK's remaining economic reserves."
The report also includes updates on:
* Safety, reporting a 42 percent improvement in the time lost through injury but acknowledges the work that needs to be done to eliminate fatalities of which there were 12 in 2002;
* Maximising recovery and progressing partnerships, the new processes which have been introduced to help unlock remaining offshore reserves of up to 31 billion barrels of oil equivalent and which address potential barriers to investment, streamline activities and improve cost-effectiveness in the UK continental shelf;
* UK Norway co-operation, highlighting progress towards the new treaty between the two countries, the smoothing of a number of regulatory and infrastructure issues to allow free movement of hydrocarbons across the international boundary and efforts to open up mutual access to markets;
* Strategic skills agenda, reporting on the work being done to ensure the industry has access to a pool of labour with the skills it needs to meet PILOT's objectives.
- ends - | | Contact: | For further information, please contact:
Trisha O'Reilly
UKOOA Media Relations
Pager: 07659 153 069
Tel: 0207 802 2422/2400
Fax: 0207 802 2401
Email: toreilly@ukooa.co.uk
232 - 242 Vauxhall Bridge Road
London SW1V 1AU
http://www.oilandgas.org.uk
Note to editors
1.PILOT is the successor body to the Oil and Gas Industry Task Force (OGITF) and was established in January 2000 to secure the long-term future of the oil and gas industry in the UK. PILOT is made up of twenty-three key Government representatives and recognised leaders from the industry. It meets quarterly.
2.The Work of PILOT in 2003 is available on the PILOT website (http://www.pilottaskforce.co.uk) or from the DTI on 01224 254006 |
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For all press enquiries please contact:
Trisha O'Reilly at UKOOA Tel: 0207 802 2422 Email: toreilly@ukooa.co.uk
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