DESPITE the supposed massive potential for job creation - up to 145,000 according to a report prepared for the Offshore Valuation Group by the Boston Consulting Group - the ability of the UK supply chain to cope is called into question.
UK oil and gas industry consultant Hannon Westwood has said that in 2008 exploration and appraisal drilling in UK waters reached its highest level since 1997.
The US Gulf of Mexico is mature and on a slide that can only be reversed through a concerted effort by the industry backed by sufficient fiscal and other incentives to turn the tide.
Oil and gas operator Oilexco said yesterday it had successfully flow-tested gas condensate at significant rates from its Moth discovery in the UK North Sea.
