Mike Tholen – Economics Director of Oil & Gas UK, considers how the UKCS is responding to the fall in oil and gas prices and the steps the industry is taking working closely with government and the newly formed regulator – The Oil & Gas Authority – to improve the competitiveness of the basin and attract investment through the downturn.  As a co-author of the Wood Review, he will reflect on the benefits of the Review and its vital contribution to maximising economic recovery from the UKCS.