The UK must prioritize homegrown energy production over imports to support jobs, protect consumers, and grow the economy.
That’s what David Whitehouse, the chief executive of industry body Offshore Energies UK (OEUK), said in a release sent to Rigzone by the OEUK team this week, which noted that OEUK’s business outlook next month “will show that there are still significant oil and gas resources available in the waters off the coast of Britain”.
In the release, OEUK stated that, without fresh investment into ongoing production, the UK will be reliant on imports for as much as 80 percent of its needs by 2030 and without corresponding value to economy. OEUK said in the release that official statistics show that UK total energy production hit a record low in the third quarter of 2024 and that the UK imported over 40 percent of its total energy needs from overseas.
In its release, OEUK noted that its report will include analysis on how the UK can better meet ambitious targets to expand production of renewable power and fuels.
“OEUK’s annual business outlook offers a comprehensive overview of the UK offshore energy investment landscape, with the data in the report used by companies to help decide if they will invest in projects here,” the organization stated in the release.
In the release, Whitehouse said, “the UK has significant oil and gas resources, and these should be produced responsibly alongside an acceleration in supplies of renewable energy to avoid over reliance on imports”.
“The import gap between what we produce ourselves and what we need to ship and pipe from abroad is particularly concerning in an increasingly volatile world. We need homegrown energy,” he added.
“Meeting even half of the country’s projected demand for oil and gas on our journey towards net zero would add over GBP 200 billion ($253.74 billion) of value to the UK economy, support highly skilled jobs across the country, all while meeting the UK climate goals,” he continued.
“This homegrown energy future is more reliable, better for our economy, better for our jobs and can be produced with fewer emissions,” Whitehouse went on to note.
In its release, OEUK revealed that 154,000 jobs “are directly or indirectly related to offshore energy” in the UK. The organization highlighted in the release that 120,000 of these are directly or indirectly supported by oil and gas projects, and noted that, when induced jobs are included, this increases to over 200,000.
The UK gets three-quarters of its total energy from oil and gas, according to OEUK’s release, which said domestic production is equivalent to around half these needs. OEUK stated in the release that the offshore energy sector is ready to spend GBP 450 billion ($570.29 billion) on projects in the next 15 years under the right investment conditions.
Rigzone has asked the UK Department for Energy Security and Net Zero (DESNZ) for comment on OEUK’s release. At the time of writing, DESNZ has not responded to Rigzone’s request.
DESNZ notes on its site that it is responsible for UK energy security, protecting billpayers, and reaching net zero. DESNZ’s priorities include “leading the government mission to achieve clean power by 2030 and accelerate to net zero”, “establishing a just and orderly transition away from fossil fuels”, “British jobs and supply chains and a successful Great British Energy”, and “a fairer deal for consumers”, its site highlights.
OEUK describes itself on its site as the leading trade association for the UK offshore energy industry and a not for profit membership organization with a history stretching back five decades.
In December 2022, OEUK announced that Whitehouse had been appointed as the organization’s new chief executive. OEUK noted at the time that his appointment followed “a highly competitive recruitment process by OEUK’s board”. Whitehouse replaced Deirdre Michie.
A bio page on Whitehouse hosted on OEUK’s site describes the OEUK CEO as “an established industry leader with 30 years of experience”.
“He is respected across the sector for his strategic and hands-on leadership in the North Sea and around the world, including the USA, Netherlands and Philippines,” the bio page adds.
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