Nothing can be said to be certain except death and taxes – though in recent times the exact nature of those taxes has become a source of much uncertainty for many of those operating in the North Sea.

The UK Budget, with its extension and increase of the windfall tax, landed with predictable frustration. Over the years, the basin has been an unparalleled good for the UK, powering the economy, ensuring energy security, and cementing the country’s leadership in offshore engineering. However, there is no doubt that the measures announced will accelerate the decline of North Sea oil and gas production.

Yet, there is still much work to be done and plenty of opportunity. The Shell-Equinor tie-up is one clear example of how companies continue to adapt to these challenges. At the same time, generations of talent and expertise remain an unmatched asset, and as a proudly UK-headquartered company built on that legacy, we continue to find reasons for optimism.

Read our latest article, from CEO, George Morrison, as he shares his insights the future of the North Sea, highlighting opportunities for growth rather than decline.