Thursday 9 September 1999

UKOOA Responds to Proposals for Industry Technology Facilitator

The creation of the Industry Technology Facilitator announced today at Offshore Europe was welcomed by the UK Offshore Operators Association (UKOOA).

James May, UKOOAs Director General, said: The development and exploitation of new technology is critical if the full potential of UK oil and gas reserves are to be unlocked.

Much of the remaining potential in the UKCS lies in small fields and complex reservoirs where development costs will be high and operations difficult.

Therefore, new technology holds the key to reducing exploration and production costs and tapping the more difficult reserves. Not only will technology have an instrumental role in helping prolong the life of the UKCS as an oil and gas province but, if developed here in the UK, will also lead to export opportunities for UK products, services and skills. This in turn will help maintain the many tens of thousands of jobs in the Industry.

For more information, please call 020 7802 2400.