Oil & Gas UK Welcomes Record Interest in North Sea Licences

abarrelfullabarrelfull wrote on 23 May 2012 18:43
Tags: uk upstream

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Oil & Gas UK welcomes the news from the Department of Energy & Climate Change (DECC) that the latest North Sea licensing round for oil and gas drilling has broken all previous records for the number of applications received by the Government.

Mike Tholen, Oil & Gas UK’s economics director, said: “The record number of applications is very welcome news which reflects the vast opportunity for business that remains on the UK continental shelf.

"What is key, however, is that changes posed in the 2012 Budget are established later this year to the best effect so that this interest is converted into exploration, development and ultimately new production with all its positive economic benefits.”

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