The North Sea oil and gas industry received a major boost last night with confirmation the sector is to play a major role in Britain's plans for greater energy independence.
The UK Government's energy security strategy sets out how the country will accelerate deployment of wind, new nuclear, solar and hydrogen, whilst supporting the production of domestic oil and gas in the nearer term. Around 95% of our electricity by 2030 could be low carbon.
The plans include a fresh oil and gas licensing round to be launched in the autumn for North Sea projects. There will also be a new taskforce providing bespoke support to new developments.
The UK Government says the moves for a licensing round and taskforce recognises the importance of oil and gas to the transition and to the country's energy security, and that producing gas in the UK has a lower carbon footprint than imported from abroad.
Sam Laidlaw, executive chairman of Neptune Energy, said the strategy "breathes new life into the North Sea" and gives investors "confidence to allocate significant capital" into the sector.
The UK Government's Scottish Secretary Alister Jack said the plans would "turbocharge energy production" and the key to that would be accelerating the use of green technologies.
He added: "We will also maximise oil and gas production in the North Sea, making the most of our existing assets and expertise. This will bolster domestic energy security, while at the same time supporting Scottish jobs.
"Scotland will play a key role in achieving our ambitious energy security strategy, and we will work with the Scottish Government to maximise our domestic energy supply."
The UK's offshore sector supports about 195,000 jobs. Last year, it provided 38% of the nation's gas and the equivalent of 80% of its oil needs.
Business and Energy Secretary Kwasi Kwarteng said: "We have seen record high gas prices around the world. We need to protect ourselves from price spikes in the future by accelerating our move towards cleaner, cheaper, home-grown energy.
"The simple truth is that the more cheap, clean power we generate within our borders, the less exposed we will be to eye-watering fossil fuel prices set by global markets we can't control.
"Scaling up cheap renewables and new nuclear, while maximising North Sea production, is the best and only way to ensure our energy independence over the coming years."
The energy security strategy is expected to lead to tens of thousands of new jobs across Britain.
Proposals unveiled include a significant acceleration of nuclear, with an ambition of up to 24GW by 2050 - around 25% of projected electricity demand. Small modular reactors are expected form a key part of the nuclear project pipeline.
There is a new ambition set for offshore wind south of the border - producing up to 50GW by 2030 - with 10% from floating offshore wind in deeper seas. This will be underpinned by new planning reforms to cut the approval times for new offshore wind farms from four years to one year and an overall streamlining which will radically reduce the time it takes for new projects to reach the construction stage.
In addition, the UK Government aims to double its target to up to 10GW of low-carbon hydrogen production capacity by 2030 - with at least half coming from green hydrogen.
As regards onshore wind in England, there will be consultation on developing partnerships with communities who wish to host new onshore wind infrastructure in return for guaranteed lower energy bills.
The UK Government will also look to increase the country's current 14GW of solar capacity which could grow up to five times by 2035.
There is now expected to be a surge in the number of "clean" jobs in the UK, with 90,000 jobs in offshore wind by 2028 - 30,000 more than previously expected; 10,000 jobs in solar power by 2028 - almost double prior estimates; and 12,000 jobs in the UK hydrogen industry by 2030 - 3,000 more than had been anticipated.
Prime Minister Boris Johnson said: "We're setting out bold plans to scale up and accelerate affordable, clean and secure energy made in Britain, for Britain - from new nuclear to offshore wind - in the decade ahead.
"This will reduce our dependence on power sources exposed to volatile international prices we cannot control, so we can enjoy greater energy self-sufficiency with cheaper bills."
The strategy follows rising global energy prices, provoked by surging demand after the pandemic as well as Russia's invasion of Ukraine.