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Osborne hails North Sea investment

Osborne hails North Sea investment


 

Chancellor George Osborne has welcomed the £3bn of planned investment by Maersk Oil in the Culzean field as evidence of the success of government measures to support the North Sea oil and gas industry. In comments made on Monday 31 August, Osborne said that in spite of “challenging times” the government has “backed the oil and gas industry at every turn, introducing a vital package of support to help it to protect and create jobs.” Osborne also questioned the ability of the Scottish government to deliver an equivalent level of support for the industry on its own, saying Scottish government statistics had shown the current oil price would have exposed a £20bn black hole in Scotland’s finances.

 

HM Treasury