It has been announced that as of 1st October 2016, the OGA (Oil and Gas Authority) will be established as an independent regulator by the UK Government and receive new powers that will mean it can act with greater speed and flexibility to drive investment, support jobs and further UK’s competitive edge in the oil and gas industry.
https://www.gov.uk/government/news/launch-date-for-oil-and-gas-authority-government-company-announced