Senior representatives of the UK oil and gas industry held talks with the Scottish and UK energy ministers in Aberdeen yesterday.
The discussions, involving Fergus Ewing and Charles Hendry focused on the future of the sector in the wake of lower activity in the North Sea last year.
Access to infrastructure, capital and skilled workers was a core theme of the meeting, organised by the partners behind the oil and gas industry/government Pilot scheme.
Malcolm Webb, chief executive of industry body Oil and Gas UK, said: “Last year’s drop in both exploration and production does not reflect the vast production potential that remains in the UK continental shelf or the extensive technology and expertise that exists within our world class supply chain. Only by working together – and the (March) Budget proposals resulting from year-long collaboration on the tax regime are a good example – can we ensure that the performance in 2011 is not repeated.”
Oil and gas firm Sterling Resources said yesterday it was looking forward to resuming drilling and its transformation to also being a producer, with its Aberdeen-based UK arm expecting first gas from its North Sea Breagh development later this year.
First-quarter results showed net losses of £4.7million, against a deficit of £13.3million a year earlier, but chief executive Mike Azancot said the recent sale of a 13.5% interest in North Cladhan should provide additional funds for its activities during the remainder of 2012.
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