The Oil & Gas Authority became the North Sea Transition Authority, or NSTA, this morning.
The new organisation, despite the title’s reference to the North Sea, will also regulate the onshore industry.
A spokesperson for the NSTA said:
“Onshore oil and gas remain very much part of the NSTA.”
The new name is intended to reflect the organisation’s role in the energy transition, the spokesperson said:
“The NSTA will continue to play a vital role in ensuring energy security as the body which stewards the oil and gas industry, both on and offshore, with energy transition issues already playing a significant and increasing role in the organisation’s day-to-day activities.”
The industry is expected to play “a key role in the energy transition and support energy se
Several onshore companies are pursuing hydrogen production and renewable energy projects, such as geothermal heat and battery storage.
Asked whether the new organisation would regulate these projects, the spokesperson said:
“We have not received any new regulatory responsibilities.”
Andy Samuel, head of the OGA, is now chief executive of NSTA. He said:
“The UK is moving to a net zero, low carbon future and the Russian government’s invasion of Ukraine reinforces the need for pace. Meanwhile oil and gas remain vital for energy security as we transition. The NSTA is ideally placed to support both.
“Our values remain the same while the organisation is adapting to meet the UK’s changing needs. We will continue our strong focus on value creation for government, the public and industry.”
NTSA said its work would include:
- Stewarding ongoing production from oil and gas fields
- Regulating new oil and gas developments from licensing to production
- Monitoring industry greenhouse gas emissions
- Leading studies on the potential for hydrogen power and carbon storage