Scotland will remain a major oil and gas producing nation for decades to come, Fergus Ewing said yesterday.
The energy minister said that the country would “continue to reap the benefit” of the North Sea’s natural resources and the sector’s world-leading skills and experience, which were vital to the success of the renewables industry.
Mr Ewing said that with 24billion barrels of oil and gas equivalent still to be recovered from the North Sea, the industry was not in decline.
The Highland MSP spoke out after the UK Government’s new energy minister, Michael Fallon, claimed that oil and gas leaders around the world were worried about Scottish independence.
The Conservative MP said Scotland’s status “matters” to key people in the industry, and independence would cause “uncertainty in investment”.
Mr Ewing, who pointed out that the industry supported nearly 200,000 jobs directly and indirectly in Scotland, said: “The oil and gas industry is vital to Scotland’s future.
“The wealth it brings, if properly managed, will make real differences to the lives of everyone at home and abroad.”
Mr Ewing said there were almost 2,000 service and supply companies based in Scotland which were active in more than 100 countries worldwide.
He added that recent figures showed North Sea oil and gas could generate between £41billion and £57billion in tax revenue in the next six years.
Mr Ewing said: “Last year the first minister launched Scotland’s Oil and Gas Strategy which lays out our target for higher recovery rates, greater exports and £30billion of annual sales by 2020. Setting these targets shows our commitment that our oil and gas sector continues to go from strength to strength with record levels of investment in the North Sea.”
Mr Ewing said that investment was projected to reach £13billion in 2013, while total investment in companies’ plans was worth around £100billion.
He added that it would be for the public to decide how oil and gas tax revenues should be spent in 2017 – which would be the first full year of Scottish independence if there was a “yes” vote at next year’s referendum.
Mr Ewing said: “The wealth from our oil can make a huge contribution to helping the whole of society – not just those who work in the sector.”
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