In light of the \u2018No\u2019 vote in the Scottish Referendum, Oil & Gas UK looks forward to continuing working closely with both the UK and Scottish Governments towards the shared ambition of maximising economic recovery of the UK\u2019s offshore oil and gas resource.<\/p>\n
This vote does not and will not diminish the pivotal role played by the Scottish Government in supporting the offshore oil and gas industry and Oil & Gas UK looks for this to continue.<\/p>\n
Malcolm Webb, Oil & Gas UK Chief Executive, said: \u00a0\u201cThe Referendum campaign rightly revealed the important role the offshore oil and gas industry plays in our economy, both in Scotland and in the rest of the United Kingdom. \u00a0This is understandable given this industry remains the UK\u2019s largest corporate taxpayer and largest industrial investor, and its crucial role in helping assure thousands of well-paid highly skilled jobs as well as our energy security.<\/p>\n
\u201cTo safeguard the industry\u2019s future, it is particularly important that that the government now presses swiftly ahead with fiscal reform as well as the implementation of Sir Ian Wood\u2019s recommendations to maximise the economic recovery of our oil and gas resource. \u00a0The industry must not delay either in a cross-sector effort to bring its escalating costs under control.<\/p>\n
\u201cThere has been a great deal of discussion about how much oil and gas resource remains to be produced from the UK continental shelf. \u00a0Oil & Gas UK\u2019s position remains that there could be between 12 \u2013 24 billion barrels of oil and gas still to recover but that the above three pivotal challenges need to be resolved if we are to stand any chance of reaching the top half of this range.<\/p>\n
\u201cWe will continue to work with both UK and Scottish Governments on our mutual goals. \u00a0This is not just to maximise the economic recovery of the substantial remaining potential of the UKCS oil and gas resource but also to strengthen its supply chain across Scotland and in all other parts of the United Kingdom.\u201d<\/p>\n
Among top Scottish oil and gas exploration companies include: Abbot Group plc, Cairn Energy, Dana Petroleum, Britoil\u00a0 and the Wood Group.<\/p>\n","protected":false},"excerpt":{"rendered":"