Professor Kemp's submission indicated how the Strategy could best be modified to meet the proposed revised one.
In his detailed submission, Professor Kemp answered many questions stated by the OGA regarding the proposed alterations to the Central Obligations including clarification on what constituted reasonable reductions in emissions and what incentives mechanisms should be employed. Support was given to the suggestion to repurpose oil and gas assets to support the Net Zero Target in an economical manner. This requires further clarification to the taxation arrangements for Ring Fence and non-Ring Fence activities. The use of an effective carbon price should be considered. When applications for exploration licences are invited, marks could be awarded for measures promised to reduce emissions. Similarly, field development and decommissioning plans should include commitments to reduce emissions. Further clarification on the meaning of “Fair and Reasonable Terms” for third party access to infrastructure should be given. The OGA could become more proactive in defining what collaborative behaviours should be encouraged, and in design of cost and reward-sharing contracts. Copies of the detailed submission can be obtained from Professor Kemp (email: a.g.kemp@abdn.ac.uk).