In response to today’s announcements from BP and Shell, Kenny Anderson of Business for Scotland Aberdeen said: “These statements come as one of the UK’s leading oil economists, Professor Alex Kemp of the University of Aberdeen, today predicts a potential North Sea bonus of 99 new discoveries in the next 30 years. Professor Kemp is extremely well respected, even the No campaign listen to what he says. “Essentially the main thrust of the comments seems to be to support Sir Ian Wood’s criticism of the report from the respected Think Tank N56 ,which stated that the potential of the North Sea oil reserves were double that of the highest levels currently forecast. “Sir Ian Wood claims he is neutral, but questions must be asked after he downgraded his previous estimate of 25bn barrels, which he highlighted in a BBC interview. https://youtube/watch?v=kIIW6hg--AA “He has clearly changed his mind in a way that suits the No campaign.” Far from promoting the Union as a source of stability for the oil sector prior to the referendum Sir Ian Wood has heavily criticised Westminsters stewardship of Scotland oil. Commenting on George Osborne’s 2011 tax changes, Sir Ian Wood, the chairman of the Aberdeen-based oil engineering Wood Group is reported as saying: “…the Chancellors plan was a real setback for North Sea oil that would reduce investment in the industry and harm efforts to maximise the extraction of oil from the UK continental shelf.” (Scotsman, March 25, 2011) Oil industry heavyweight Doug Duguid, CEO of Enermech, who declared for YES today alongside 100 other Scottish business people, has said of the N56 report: The N56 report was not really new news to most people in the industry – but the key point is that the Wood report doesnt take account of these reserves that will come online later in the life of Scotlands oil industry. Investment in Scotlands oil and gas future is extremely strong right now and this shows the continuing and growing confidence in the sector.” Kenny Anderson added: “We believe successive Westminster administrations have failed in the stewardship, nurturing and sustaining of our oil and gas industry, treating it only as a cash cow for regular tax raids. Scotland needs a Yes vote next month so we can create a regulatory and tax regime that allows proper investment in research and development for technological advance as well as a continued income stream for future generations. ENDS Notes to editor: N56 report businessforscotland.co.uk/scottish-oil-bonanza-for-a-century-confirms-think-tank/ Enermech is one of the fastest growing businesses in Scotland. Six years old and will have sales of around £280m this year. Headquartered in Aberdeen, it has 31 bases in 19 countries and more than 2200 employees – of which around 800 are employed in Scotland.
Posted on: Wed, 10 Sep 2014 15:30:12 +0000
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