Exclusive: New Energy Institute president ‘fears for North Sea’ if innovation falls by wayside
The Energy Institute’s new president has said he fears for North Sea’s future if industry and government fail to stimulate innovation.
Malcolm Brinded, a former executive director of Shell, also urged the UK Government to provide the greater certainty around energy policy.
In his first interview since becoming Energy Institute (EI) president in July, Mr Brinded warned failure to do so could mean missing out on ambitious oil production targets.
Industry and government are targeting the extraction of another 20billion barrels of oil over the remaining lifetime of the North Sea.
The MER (maximising economic recovery) UK strategy was launched in March 2016 to assist with the task.