The North Sea Transition Authority (NSTA), known as the Oil and Gas Authority (OGA) until March 2022, is a private company limited by shares wholly owned by the Secretary of State for Business, Energy and Industrial Strategy. It is responsible for maximising the economic recovery of oil from the North Sea. It is empowered to license and regulate activity in relation to oil and gas in the United Kingdom, including oil and gas exploration, carbon capture and storage, and offshore gas storage. The NSTA’s role is to take the steps necessary to: secure that the maximum value of economically recoverable petroleum is recovered from the strata beneath relevant UK waters; and, in doing so, take appropriate steps to assist the Secretary of State in meeting the net zero target, including by reducing as far as reasonable in the circumstances greenhouse gas emissions from sources such as flaring and venting and power generation, and supporting carbon capture and storage projects. Established in April 2015 as an executive agency of the Department for Business, Energy and Industrial Strategy, on 1 October 2016 the Oil and Gas Authority was incorporated as a Government Company, with the Secretary of State for Business, Energy and Industrial Strategy the sole shareholder and headquartered in Aberdeen with another office in London, which is also its registered company address. As of the 6 March 2019, Tim Eggar is the chair. From Wikipedia
