Announcement

Moore welcomes North Sea investment

This news article was published under the 2010 to 2015 Conservative and Liberal Democrat coalition government

The Secretary of State for Scotland Michael Moore has welcomed BP’s announcement today that it is to go ahead with a new £4.5 billion oil project…

The Secretary of State for Scotland Michael Moore has welcomed BP’s announcement today that it is to go ahead with a new £4.5 billion oil project west of Shetland. The investment in the Clair field, along with Shell, ConocoPhilips and Chevron, means the oil industry is now investing almost £10 billion in the North Sea over the next five years, providing around 3000 jobs in the sector and supply chain.

Michael Moore said: “Today’s news underpins the strength and resilience of the UK’s oil and gas industry and welcome news for Scotland and its business in the sector. It is a significant level of investment which will both safeguard and create jobs and shows the confidence the industry has in the future of our oil fields. As the Prime Minister has said this morning, we should be proud of our industry across the UK and its achievements - it is a shared resource which rightly benefits all of the UK.”