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摘要

This year's budget was hailed by chancellor George Osborne as 'an advertisement for investment and jobs in Britain'. For the oil and gas sector, it was confirmation that the government would support the industry in difficult times.Osborne's measures included a £3bn new field allowance for large and deep fields to open up west of Shetland - the last area of the basin left to be developed. The move was designed to encourage billions of pounds of investment in the North Sea, where production has been falling since 1999.