Exploration activity on the United Kingdom Continental Shelf (UKCS) appears to be in terminal decline. Determined to reinvigorate the sector, the UK government has embarked upon a radical reform of the regulatory and fiscal regime, beginning in 2015 with the establishment of the Oil and Gas Authority (OGA), a new independent regulator, and continued apace with the promise of financial incentives. With oil prices still depressed and the big hitters seemingly keen to move away from the North Sea, Gas Matters asks whether the government left it too late to save the ailing sector.
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