Extract from Westminster Hall debate on the Scottish Economy - June 27
Thursday, 28 June 2018 08:43
Drew Hendry (Inverness, Nairn, Badenoch and Strathspey)
(SNP):...Production efficiency in the oil sector has risen for the
fifth consecutive year, reaching 74% in 2017, demonstrating
sustained efficiency improvements and maximising the economic
recovery. Oil & Gas UK’s “Business Outlook for 2018” shows
growth in investment and a further 5% increase in the forecast
production for that year. Recent industry announcements about BP’s
successful working discoveries in the Capercaillie...Request free trial
(Inverness, Nairn, Badenoch and
Strathspey) (SNP):...Production efficiency in the oil
sector has risen for the fifth consecutive year, reaching 74% in
2017, demonstrating sustained efficiency improvements and
maximising the economic recovery. Oil & Gas UK’s “Business
Outlook for 2018” shows growth in investment and a further 5%
increase in the forecast production for that year. Recent industry
announcements about BP’s successful working discoveries in the
Capercaillie and Achmelvich wells and Shell’s redevelopment of the Penguins field
demonstrate the investment potential that the UK fields still hold.
Over the next decade our oil and gas sector can capitalise on the
decommissioning market, which is forecast to reach £17 billion; but
that is only if the right decisions on investment are made...
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