Role of oil & gas crucial to achieving balanced energy mix on the road to net zero – NOF chief executive responds to OGUK Economic Report

Commenting on OGUK’s 2021 Economic Report, George Rafferty, chief executive of NOF, the UK business development organisation for the energy sector, said:

“OGUK’s report amplifies the importance of maintaining a balanced energy mix as we continue the journey towards net zero. The development of new solutions, such as hydrogen, and the growth of other renewable energy generation sources are vital to achieving a low carbon economy and should act alongside the managed decline of oil & gas.

“The supply chain is essential to achieving both parts of this strategy. Innovative, technology-led companies are making the transition to supporting the establishment and growth of new and emerging energy resources while also supporting the drive in the oil & gas sector for more efficient and more environmentally considerate exploration and recovery.

“Taking forward new oil & gas developments continues to be important for our current energy requirements, but to also support the ability for the sector to support investment in new green technologies and to further assist supply chain companies in taking their products, skills and services into the renewable energy industries.”