Our goal is to invest in assets that add significantly to hydrocarbons discoveries in the UK, while delivering development and production excellence. We aim to earn a reputation for working efficiently and effectively with partners to develop and prove technologies that help deliver new oil and gas production. We will do this in ways that offer the lowest risk exposure, with respect to the environment and to the communities in which we operate.
The UK will continue to rely on hydrocarbons. Oil and gas is a part of our everyday way of life and is the source of so many consumer products that we take for granted. We often overlook the fact that oil is used to make and run many essential items that are not in any way associated with transportation or thermal heating. That is why oil and gas will continue to be produced for a long time to come.
The world’s geological evolution has often placed hydrocarbons in locations that are not so convenient for mankind to recover. Yet over time, the world’s oil and gas industry has adapted and evolved to marry our demand for hydrocarbons with recovery methods to satisfy that demand, whilst at the same time working to protect the environment across the exploration and production journey.
In Britain, the oil and gas industry has a proud industrial heritage, and represents an industry that today contributes over £35 billion in economic activity across the upstream value chain, employing hundreds of thousands of people and contributing over £5 billion in tax revenues annually to HM Treasury.
The benefits that oil and gas exploration and production can deliver to the UK economy, our citizens and our energy security are quite clear. But these benefits do not have to come at any cost. As a rural Surrey resident, I am as mindful as anyone of the impact industrialisation can have on a rural economy and way of life.
That is why under my leadership and with the support of my team, shareholders and our stakeholders, UKOG will be a company that will deliver the economic benefits of oil and gas production that has the lowest practical visual, noise and traffic impact. We intend to produce oil and gas by conventional methods, while at the same time work with technology partners to research, develop and prove technology that can recover hydrocarbons from geological formations in ways that are at the cutting edge and as non-intrusive as practicable.
On our website, we have produced a section on the history and significance of Britain’s oil industry which I hope you will find interesting.
We are proud of our British heritage, where the values of respect for the law, the environment, honesty, decency and tolerance of other people’s views and opinions are business values all our employees sign up to when they join our company. We also expect our suppliers to demonstrate the same sets of values.
Here in the UK, we have and enjoy strong, effective and transparent rules and regulations when it comes to the development of oil and gas assets.
I take this opportunity to thank you for visiting our website and look forward to working with shareholders, stakeholders, community leaders, regulatory agencies, service companies and trade suppliers as we continue our journey to deliver the economic, employment and taxation benefits we can all share.