BP North Sea boss Doris Reiter says uncertainties driven by government policy are undermining investment confidence and the energy transition.
The energy major is celebrating 60 years in the North Sea, and in an interview with Energy Voice, Ms Reiter said she wants to build on that legacy.
But with “hundreds of millions of pounds or even billions of pounds of investment” potential in the UK with BP’s various existing fields, Ms Reiter said that there needs to be a good case to keep the company’s capital in the UK to continue production at these sites.
“We need to have long-term fiscal stability and the conditions need to be right to continue investing,” she said.
Ms Reiter, a lifelong engineer herself, has also voiced concern about the impact that government policy is having on the North Sea workforce.
She said: “We are engaging constructively with the government to make sure that they understand what is considered a stable fiscal environment and conducive for continued investment.
“But ultimately it comes back to people, jobs, careers and livelihoods. That is what is at the heart of this and it’s what makes me want to get up every morning and come to work and what makes me determined to build on BP’s 60-year legacy in the North Sea.”
Click here to read the full interview in Energy Voice.