“This latest development is potentially very significant for the future of the oil and gas sector and underlines that just as we have consistently said the North Sea oil and gas industry has a bright future ahead of it. “New technology that has the potential to extend the lifespan of oil and gas fields could be hugely significant for jobs and Scotland’s economy and I am sure that this announcement will be met with a great deal of interest in the industry. It also backs up the recent comments by Professor Alex Kemp that improving technology will increase the viability of existing oil fields and yet to be discovered fields. “With the right support the oil and gas sector can go from strength to strength and reap the full benefit of new developments such as this – but for that to happen there can be no return to the shock tax raids and uncertainty we have seen in recent years from the Westminster Government.”
Posted on: Thu, 25 Sep 2014 06:37:22 +0000
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