THE WOOD REPORT - UKCS Maximising Recovery Review: Final Report
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The follow up to his interim report into the state of the UK oil industry, Sir Ian Wood's UKCS Maximising Recovery Review: Final Report was released on 24th February 2014. This in-depth 72-page treatise on the UK oil and gas industry has taken evidence from a wide variety of interested parties, including approximately:
40 companies who have a licence interest in the UKCS; together these companies account for more than 95 per cent of UKCS production and investment
15 companies from the supply chain and other key stakeholders in UKCS activities
20 key Government figures in DECC, HM Treasury, BIS, Scotland Office and the Scottish Government; and
5 International regulators from the USA, Canada, Norway, the Netherlands and Australia
75 written submissions in response to key questions and the Interim Report, published on 11 November 2013
Below is an overview of the the UK sector as it stands:
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