More than 170 years since its resources were first tapped, the North Sea is still viewed by many as “the jewel in the crown” of the UK’s energy system – even if the type of jewel and style of crown remain up for debate.
This is the phrase used by the chief executive of the North Sea Transition Authority (NSTA), Stuart Payne, whose organisation changed its name from the Oil and Gas Authority last year to reflect a newer focus on other technologies such as carbon storage and the gradual shift away from fossil fuel extraction.
That decision was announced soon after Russia invaded Ukraine, and in the 15 months since then, the NSTA has maintained a keen focus on its foundational task of handing out permits for oil and gas projects. A licensing round launched in October even focused on discoveries without permits that could quickly be turned into new production, rather than big new fields as is traditional.