UK Offshore Sector Hopes for Boost from Government Proposals

摘要

The UK government is cautiously embracing proposals, mooted by industry body Oil & Gas UK (OGUK), which would give the North Sea oil industry a much needed shot in the arm - if they are implemented soon.The government outlined plans late last year to relax the UK North Sea fiscal regime aimed at stimulating investment across the ageing UK Continental Shelf (IOD Dec.5'08,p4). OGUK says it is hopeful that the incentives will go much further, however, based on more recent recommendations. And with as many as 50,000 oil industry jobs potentially at stake over the next two years - and a growing number of regional operators already revealing plans to downsize - the government is under growing pressure to help the beleaguered industry through the tough times.