Oil & Gas UK Welcomes EnQuest's £169 million Investment in Thistle

abarrelfullabarrelfull wrote on 05 Feb 2013 18:00
Tags: enquest europe north-sea uk upstream

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Mike Tholen, Oil & Gas UK's economics and commercial director, said: "Oil & Gas UK is pleased that the tax change made recently by the Government to promote further new investment in the UK's existing oil and gas fields continues to deliver real benefits to the national economy.

EnQuest's decision to make fresh investment in the Thistle field will provide hundreds of jobs right across Britain and with extra oil being extracted, UK energy security will be strengthened. Given that oil and gas will still be needed to provide 70 per cent of our energy needs into the 2040s, this announcement reinforces the importance of continued constructive engagement between the industry and Treasury to ensure that the recovery of the UK’s oil and gas resources is maximised in the coming decades."

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