NORTH SEA OIL AND GAS INDUSTRY READIES FOR ANOTHER RECORD YEAR OF INVESTMENT - Aquaterra Energy

NORTH SEA OIL AND GAS INDUSTRY READIES FOR ANOTHER RECORD YEAR OF INVESTMENT

12/08/2013

The UK Government has verbalised this week that the North Sea oil and gas industry is on course for another record year of investment.  Energy Minister Michael Fallon said that the offshore sector was on track to “smash last year’s total thanks to multibillion-pound projects” with major players such as BP, Statoil and Chevron.  It is these big deals that will drive the industry for decades to come and Fallon believes that it is this investment that shows the confidence that the industry has in the region’s future.
 
On a recent visit to Aberdeen Mr Fallon added to his statement that government tax breaks had helped re-invigorate a sector which some saw as diminishing and it had helped protect more than 400,000 jobs in the industry.  Mr Fallon said that it was anticipated that more than £14billion would be invested in UK oil and gas developments in 2013, a £2.2billion increase on 2012.
 
Eric Doyle, Regional Director – Europe at Aquaterra Energy, commented: “Aquaterra Energy’s team in Scotland is riding the wave of booming business that the North Sea oil and gas industry has beheld recently.  We are delivering the full scope of analysis, engineering design and project management, for projects including high pressure riser systems and subsea protective structures, for a number of clients in the North Sea region.  The company is also responding to a healthy demand in the region for its extensive service and rental offering, designed to enable rapid response to clients’ needs.”