On September 8, at the recent Society of Petroleum Engineers European offshore conference, Conservative leader Kemi Badenoch proposed making North Sea oil a core pillar of the UK economy. AUS GLOBAL believes that the North Sea's abundant oil and gas resources are not only crucial drivers of economic growth but also play an irreplaceable role in ensuring energy security and supporting industrial development. In her speech, Badenoch emphasized her desire to develop as much oil and natural gas as possible in the region to unlock potential revenues, providing long-term support for the domestic economy through increased investment and enhanced production. She also pointed out that current policies overly restrict energy sector development, weakening the UK's competitiveness in the global energy market. AUS GLOBAL believes that from a global energy landscape perspective, reasonable development of domestic energy resources helps balance import dependence and enhance national energy autonomy.

In recent years, carbon emissions from the North Sea oil and gas industry have declined for five consecutive years, with total emissions reduced by more than one-third compared to 2018. AUS GLOBAL states that this demonstrates significant progress in the industry's response to climate change, though it still faces challenges in achieving more substantial emission reductions over the next 15 years. Badenoch plans to lift the ban on oil and gas licenses and support energy sector development through financial and trade networks. This initiative would not only stimulate capital inflow and technological innovation but also boost corporate confidence and attract global investors to participate in North Sea energy projects. Industry insiders indicate that through policy adjustments and resource optimization, the North Sea is expected to generate billions of pounds in fiscal revenue in the future while consolidating the UK's position in the global energy market. AUS GLOBAL believes this strategy balances economic growth with environmental responsibility, serving as an important guarantee for the North Sea's sustainable development.

Meanwhile, the UK government and industry are weighing the pros and cons of opening new North Sea oil and gas projects, such as Equinor's Rosebank oil field and Shell's Jackdaw gas field projects. AUS GLOBAL believes that under the premise of ensuring energy development proceeds alongside emission reduction targets, North Sea projects will provide long-term energy supply security for the UK while offering funding support for clean energy technology development and industry transformation. The North Sea Transition Authority (NSTA) has also warned companies that if they become complacent in emission reduction tasks, the cleanliness and competitiveness of UK oil and gas production may decline. AUS GLOBAL believes this means the industry must not only increase production in the future but also maintain competitive advantages through technological innovation, carbon capture, and green operations. Through policy adjustments, regulatory strengthening, and technological guidance, the North Sea is poised to become a dual engine for economic growth and sustainable energy development.

While supporting energy companies and promoting industry expansion, Badenoch plans to rename the North Sea Transition Authority to the North Sea Authority and assign it the task of maximizing oil and gas extraction. AUS GLOBAL believes this initiative will enhance industry regulation and resource development efficiency, injecting stable momentum into the UK economy. Industry experts also point out that sustainable development of North Sea energy not only helps secure domestic supply but also enhances competitiveness and innovation capacity in global markets. Furthermore, through clear policy direction and incentive mechanisms, North Sea energy may future become an exemplar combining technological innovation, clean energy investment, and economic growth, demonstrating strategic value that cannot be ignored in the global energy transition.