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UK Government supports North Sea

Written by  OE Staff Thursday, 31 August 2017 03:30

New Energy Minister Richard Harrington has told oil and gas leaders they have the "full support" of the UK government in maximizing the economic opportunity in the North Sea during his first visit to the region in his new ministerial post.

The UK Energy Minister met and addressed oil and gas industry leaders at the Maximising Economic Recovery (MER) Forum and the Oil and Gas Joint Council as well as attending meetings on the Industrial Strategy’s role for supporting the sector and the prospect of Remote Islands Wind (support for wind projects on remote islands).

The minister also listened to proposals from industry for an ambitious and deliverable oil and gas sector deal under the Industrial Strategy.

UK Energy Minister Richard Harrington said: "These are challenging but exciting times with new opportunities in North Sea oil and gas. We are working with the sector to build on the £2.3 billion worth of UK government support through our modern Industrial Strategy.

"I want to make it clear that the industry has full support of the UK government, and that we are continuing to create the right environment though a stable and supportive package to allow business, enterprise and jobs to flourish."

Andy Samuel, chief executive of the Oil and Gas Authority, said: "Today we held the MER UK Forum in Aberdeen and I very much value the continued close working with the oil and gas industry and strong support from the government. Together, this work is actively helping to maximize economic recovery and position the UK as an attractive basin to invest in, with significant remaining potential."

Deirdre Michie, CEO of Oil and Gas UK, said: "I welcome the minister’s assurances that the industry has the full support of the UK government. We look forward to working with the new energy minister to ensure that government policy like the Industrial Strategy and the UK Budget supports our own industry efforts to make the basin a competitive investment proposition."

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