Europe is the world’s fourth most important producer of oil and gas. Even after decades of production, the potential remains relevant: up to the equivalent of 100 billion barrels of oil are left beneath Europe’s surface. This is enough oil and gas to cover the region’s consumption for many years.
The European Committee’s key long-term strategic aims are to facilitate:
- the safe, responsible and profitable performance of members in Europe
- a favourable environment for members to bring to the European market oil and gas they have produced elsewhere in the world
- fair, open energy markets
- sound environmental and social policies
The European Committee also performs an informational role, highlighting the socio-economic benefits of European upstream activities to the EU.
IOGP’s European Committee helps safeguard current and future production, promoting the benefits that the industry – and its products – bring to Europe’s citizens.
The Committee also works to ensure that Europe remains open to oil and gas imports from other producing areas, striving for safe and secure energy supplies.
The Committee does this by engaging in dialogue with the EU institutions: the Commission, the Parliament and the Council. The aim: to see in place upstream EU policies, regulations and laws that balance economic, social and environmental objectives.
This is particularly important since European laws are often adapted to meet national and regional needs elsewhere.
The European Committee has several subcommittees and Task Forces dedicated to specific issues:
- Carbon Capture & Storage (CCS) Subcommitte
- Corporate Governance, Transparency & Reporting Subcommittee
- Energy & Climate Sucommittee
- Energy Market Subcommittee
- EU Marine & Environment Subcommittee
- Upstream Subcommittee
- Financial regulation Task Force
- Air Quality & Methane Network
- Emissions Trading (ETS) Network
For more information, contact Nareg Terzian at email@example.com