International Finance
Oil & Gas

Government of the United Kingdom extends support to offshore oil and gas sector

oil & gas, oil & gas UK, government of UK, North Sea

North Sea industry leaders assembled at a meeting with the UK Government’s Exchequer Secretary to the Treasury, Robert Jenrick MP. According to Oil & Gas UK, the company’s Chief Executive Deirdre Michie hosted a discussion at the leading representative body’s offices in Aberdeen. The meeting was attended by a cross-party group of politicians, Oil and Gas Authority Chief Executive Andy Samuel and Oil & Gas UK board members.

After the meeting, Robert Jenrick MP, said: “I was pleased to visit Oil & Gas UK in Aberdeen today to meet with representatives from the industry and local MPs.

“I reaffirmed the Treasury’s commitment to globally highly competitive, stable and predictable taxation for the sector, as first set out in Driving Investment in 2014.”

Oil & Gas UK Chief Executive Deirdre Michie, added: “It was great to welcome the Minister to Oil & Gas UK today to reaffirm the value of our sector to the UK economy.

“We continue to work with governments and the regulator to guarantee the success of our industry for many decades to come. It’s why I’m pleased the Minister again confirmed the government’s commitment to fiscal stability—a critical element of our offering to investors in a globally competitive market.

“Essential for security of energy supply, contributing billions to the economy and supporting hundreds of thousands of jobs, our indigenous oil and gas industry offers a sound investment case to the UK economy. Our challenge now is to underline the potential the UKCS continues to offer investors across the world. This is the path towards unlocking our shared ambition for the future, Vision 2035.”

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