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Andy Samuel has officially begun his role as the chief executive of the new Oil and Gas Authority (OGA), established as part of the recommendations made by Sir Ian Wood in the Wood Review.
A government statement said that Samuel’s appointment was a “major milestone” in the establishment of the new regulator, and added that Samuel has already been involved in vital decisions.
Samuel’s early priorities will include recruitment, identifying UK delivery priorities for the first year of activities and forming a strong partnership with Government and industry to enable the OGA to put into effect the Wood review recommendations. Samuel has signed on for a three year tenure with the OGA.
Samuel said on officially starting the role: “I remain confident that there is a strong future for the UK’s oil and gas industry recognising the current challenging times. From the outset, the OGA will need to work very closely with industry and Government as we work to make a rapid start on maximising economic recovery for the UK.”
Energy and Climate Change Secretary, Ed Davey said: “The government continues to implement the Wood Review recommendations as quickly as possible, and Andy taking up this role is another important step forward in ensuring we make the most of our domestic oil and gas resources and bolster the UK’s energy security.”
The Wood Review found that by implementing a set of new measures overseen by a dedicated sector regulator the UK could recover an additional 3-4 billion barrels of oil equivalent over the next 20 years.
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