Friday 11 October 2013

‘Energising the Nation’s Future’ Campaign Concludes with Debate Led by Business Secretary on Importance of Innovation to UK Economy

Energising the Nation’s Future, a nationwide awareness campaign from Oil & Gas UK to highlight the innovation, economic contribution and skilled job creation fostered by the oil and gas industry, culminates with ‘Innovation Nation’ – a major stakeholder debate examining the importance of business innovation to the UK’s economic future being held in London on 15 October.

Vince Cable MP, Secretary of State for Business, Innovation & Skills, will provide the key-note address. He will open the event and then participate in the debate with a diverse panel of leading business innovators, further cementing the Department’s support for the campaign.

The other three panellists are celebrated inventor of the wind-up radio, Trevor Baylis; Scottish entrepreneur and former land speed record holder, Richard Noble; and Head of BP’s North Sea operations, Trevor Garlick. Krishnan Guru-Murthy will host the debate attended by a select audience drawn from politics, policy and academia with an interest in business, science, technology and engineering.

The sector supports around 450,000 jobs right across the UK, with 26,000 based offshore, but the vast majority spread out across the wider economy onshore. UK-based companies dominate the world stage in subsea technology – with 45 per cent of the £20 billion global market.

Oil and gas extraction has provided the Exchequer with more than £300 billion (2012 money) in production tax over the past 45 years. In 2012-13, £6.5 billion was paid in tax on production, representing 15 per cent of the Exchequer’s total receipts of corporate tax.

The ‘Energising the Nation’s future’ campaign focuses on three key attributes of the oil and gas industry: innovation, skilled job creation and economic contribution.

Since the campaign launched in April, employees have been registering their interest online, mapping their location and relationship to the sector, and sharing their experiences to highlight the UK-wide network of skilled workers. Registrations and employees’ experiences gathered have come from a huge range of professions – including project managers, engineers, scientists, technicians, IT, manual trades, human resources and administrators – illustrating the breadth of an industry that covers the length of the UK.

Malcolm Webb, chief executive of Oil & Gas UK, added: “Oil & Gas UK launched ‘Energising the Nation’s Future’ to showcase the industry’s contribution and importance to the UK economy, innovation and skilled job creation. As a result, we’ve heard from everyone from former Formula One engineers, apprentices beginning their careers, through to veteran CEOs. They’ve all been united in their pride for the work they do and the fantastic contribution that the industry makes to the UK.

“This phase of the campaign concludes with ‘Innovation Nation’ and features a panel that firmly believes innovation is fundamental to the UK economy, jobs and competitiveness. Vince Cable MP, Secretary of State for Business, Innovation & Skills, will provide a key-note address and also participate in the panel discussions. On behalf of Oil & Gas UK and the industry, I’d like to thank him and his Department for the support he’s given the campaign and the sector more generally through the long-term industrial strategy.”

For more information about the campaign, please visit: Energising the Nation’s Future.

ENDS

Notes to Editors

1. Oil & Gas UK is the leading representative organisation for the UK offshore oil and gas industry. Its growing membership, which comprises oil and gas producers and contractor companies, now numbers more than 380.
2. The debate will take place on Tuesday 15 October at The Royal Society in London.
3. An infographic illustrating the industry’s contribution and diverse make-up and a sample of employees’ experiences of working in the sector are available here.
4. The source of figures used in this release is Oil & Gas UK’s 2013 Economic Report.