UK operators have been demonstrating more interest in uncomplicating the legal and commercial form of offshore operations in order to seek a more efficient unit of the oil and gas business across the UK Continental Shelf (UKCS). The growing number of business cooperation makes UKCS tougher, globally competitive and ensures a sustainable future for the UK North Sea.
Mike Tholen, economic director of the Oil & Gas UK event said "the UK industry is increasing the challenge established by the OGA in order to remove barriers in offshore activities. Companies are cooperating more and reducing the time needed to finalize trade and legal negotiations. These actions help to increase the competitiveness of the basin and uncover new developments in oil and gas, "he said.
To date, 30 companies have registered their commitment to the code of commercial practices, which was created in Oil and Gas UK and which aims to make companies adopt a cooperative and efficient approach in trade agreements of operations in Offfshore.