In March 2021, OGUK and the UK Government announced the landmark North Sea Transition Deal, a venture which will transform the future of the energy sector by enabling the UK’s oil and gas industry to meet its net zero emissions ambitions by 2050.
The deal promises a massive £16bn of investment to support the energy transition and is therefore fantastic news for the UK; for citizens who will benefit from affordable, sustainable energy; and for industry alike, guaranteeing opportunities for innovation, upskilling and new jobs, and recovery of the UK economy.
Commenting on the deal, Chris Stones, ITI’s Sales Director for Oil & Gas said: “This historical announcement sends a clear message of commitment to the UKCS Oil & Gas industry which retains a wealth of innovative, engineering expertise. Tapping into that knowledgebase is fundamental to ensure that the wider energy transition gains and maintains real momentum.
“ITI are proud to be a trusted partner to many of the leading Oil & Gas companies in the UK and are already supporting several ground-breaking, innovative projects that are building the foundation for the energy transition ambition to be a reality. The repurposing of existing brownfield assets to generate Hydrogen and Capture Carbon will play a significant role in reducing our reliance on fossil fuels, improve our environment and help to secure domestic energy supply. ITI have been supporting critical national infrastructure in the UK for almost 50 years and we very much look forward to continuing this to 2050 and beyond.”
Andrew Mills, CEO at ITI added: “The Government’s 10 point plan was a promising sign of the significant changes to come and now this backing through real investment properly demonstrates that commitment. The funding will be of tremendous reassurance for our customers, the key players in the oil and gas and energy industries, as they realise innovative low carbon solutions and make the transition to net zero, knowing that they have the backing of the authorities. The world around us is changing rapidly, for the better, and it’s exciting to be a part of that transformation.”
OGUK’s announcement can be found here, and includes a short animation explaining the deal. It describes a number of key areas for focus, including carbon capture usage and storage (CCUS) and commercial scale hydrogen production.
ITI’s expertise in both safety and control, and digital operations solutions for the oil and gas sector puts the leading systems integrator in a prime position to support its clients who will be looking to make the most of, and benefit long term from, this initiative.
To discuss how ITI can help you transform your operations through safe, responsive control and monitoring solutions for brownfield repurposing and upgrades, or for the enhancement of new assets, contact us today.