UK: Chief Secretary to the Treasury to speak at O&G conference
- Business & Finance
Oil & Gas UK has announced that Rt. Hon. Danny Alexander MP, Chief Secretary to the Treasury will speak on the second day of the trade association’s first Annual Conference on ‘Strength, stability, innovation: the future of oil and gas in the UK’.
The conference, taking place on June 11-12 at the Aberdeen Exhibition and Conference Centre, will also feature First Minister, Alex Salmond MSP and Sir Ian Wood alongside a number of industry experts.
Chief Secretary to the Treasury, Danny Alexander, commented:
“The North Sea oil and gas industry is a key part of the British economy. This conference is an opportunity to reflect on its successes and the contribution it makes not just in Aberdeen, but across Scotland and the rest of the UK.
“The government is determined to support the industry as it seeks to overcome new challenges in exploration and maximise economic production in the future. That is why we announced a package of measures at Budget designed to encourage investment and why we have just started talks with the industry to review how the UK’s tax system works for oil and gas. This industry, like the rest of the Scottish economy, is better off as part of a strong, stable and growing UK economy.”
Oil & Gas UK has previously warmly welcomed the UK Government’s support for the recommendations of the Wood Report and the review of the industry’s tax regime, announced by the Chancellor in the Budget on 19 March 2014, to address the challenges and opportunities faced by the mature North Sea. Namely, the consultation on a new allowance to encourage much needed investment in ultra-high pressure high temperature (u-HPHT) oil and gas field clusters.
Following the publication of the Wood Review earlier this year, the conference falls under the umbrella of MER UK (Maximising Economic Recovery UK) and conference streams will take a thematic approach, striving to answer the question: How can we develop a sustainable future for the UK oil and gas industry?
Oil & Gas UK CEO Malcolm Webb welcomed the conference, hoping it would enable collaboration in the industry at a time when the industry is facing its biggest exploration challenge in 50 years:
“I’m delighted to announce that Danny Alexander will be joining our line-up of illustrious speakers at this conference. A real sign of this government’s continuing support for the industry’s ongoing success.
“Our recently commissioned report into the thriving UK offshore oil and gas supply chain demonstrated that companies are winning contracts across the country – from south of Portsmouth to the north of Inverness. It remains vital both the UK and Scottish Governments continue to work together in order to maximise the economic activity of the oil and gas industry – for the benefit of all involved.”
The conference will break into parallel streams over the two days, allowing delegates to create their own personal conference agenda. These streams will allow the exchange of ideas and also to provoke debate on the important issues of the day, be they technical, operational or corporate.