North Sea Transition Authority
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 Energy Security and Net Zero. 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:

Established in April 2015 as a non-departmental public body of the then Department for Business, Energy and Industrial Strategy (now the Department for Energy Security and Net Zero), on 1 October 2016 the Oil and Gas Authority was incorporated, with the then Secretary of State for Business, Energy and Industrial Strategy (now the Secretary of State for Energy Security and Net Zero), 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.
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 Energy Security and Net Zero.  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:

Established in April 2015 as a non-departmental public body of the then Department for Business, Energy and Industrial Strategy (now the Department for Energy Security and Net Zero), on 1 October 2016 the Oil and Gas Authority was incorporated, with the then Secretary of State for Business, Energy and Industrial Strategy (now the Secretary of State for Energy Security and Net Zero), 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.

History
In June 2013, the UK government asked Sir Ian Wood of Wood Group to conduct a review into maximising the recovery of oil and gas from the UK Continental Shelf. One of the recommendations of the Wood Review was the creation of an independent economic regulator for the sector. Subsequently the OGA was launched on 1 April 2015 as an executive agency of the Department of Energy and Climate Change. The Energy Act 2016, which received Royal Assent in May 2016, created the legislative framework to formally establish the OGA as a government company, limited by shares under the Companies Act 2006, with the then Secretary of State for Business, Energy and Industrial Strategy (now the Secretary of State for Energy Security and Net Zero) the sole shareholder. The Energy Act 2016 also provided the OGA with new regulatory powers, including the ability to participate in meetings with operators, to have access to data, provide dispute resolution and introduce a range of sanctions such as enforcement notices and fines of up to £1 million. On the 6 March 2019, Frances Morris-Jones was replaced by Tim Eggar as the chairman of the authority.

Fracking
On 1 November 2019, following a report from the Oil and Gas Authority, the government called a halt to all fracking in the UK "with immediate effect" and warned shale gas companies that it would not support future projects.

Corporate information
Name
On 1 July 2015, Oil and Gas Authority Limited was incorporated as a private limited company in England and Wales under the Companies Act 2006, although following incorporation it remained dormant for financial year 2015-2016. Pursuant to the Energy Act 2016, Oil and Gas Authority Limited was renamed Oil and Gas Authority on 12 July 2016. Under the Companies Act 2006, private limited companies are required to include the word "limited" in their names unless exempted; the Energy Act 2016 provided for such an exemption, which came into force on 12 July 2016.On 21 March 2022, the Oil and Gas Authority adopted the trading name of North Sea Transition Authority, although its legal name remains unchanged. In a House of Commons debate on 29 March 2022, Caroline Lucas accused the government of greenwashing over the change of name. Following this, on 31 March 2022, Greg Hands, Minister for Energy, Clean Growth and Climate Change, said in a written statement to the House of Commons that "[t]he new name better represents the breadth of work it now undertakes and its pivotal role in supporting the UK upstream oil and gas industry to achieve net zero emissions."

Functions, powers, and property
Under Part 1 of the Energy Act 2016, function, powers, and property of the Secretary of State for Energy Security and Net Zero may be transferred to the Oil and Gas Authority by way of statutory instrument.

Personnel
Part 1 of the Energy Act also provides for the Secretary of State to transfer staff working for the  Department for Energy Security and Net Zero to the Oil and Gas Authority. From 2015 until December 2022, Andy Samuel was chief executive, being replaced by Stuart Payne in January 2023, and since 2019 Tim Eggar has been chairman of the board.In September 2021 Greenpeace reported that eight of the OGA's 13 board members and senior managers previously worked in the industry, and three held sizeable shareholdings in oil firms. The OGA said their knowledge was vital in helping to regulate the sector.

Ownership
Oil and Gas Authority has one ordinary share, which from 2016 until 2023 was owned by the Secretary of State for Business, Energy and Industrial Strategy. Its owner remained unchanged, with each subsequent confirmation statement showing no shareholder changes, until 3 May 2023 when it was transferred to the Secretary of State for Energy Security and Net Zero by order in council upon the incorporation of that office.

Notes
References
External links
Official website
Wood Review website