Oil firm chiefs set to meet with minister

A meeting between UK Government officials and oil firm bosses is to be held in Aberdeen next week in a bid to drive the future health of the industry.

The event, being held on Wednesday is just the second of its kind to be run by the industry/government body Pilot.

It will see cross-industry firms, from operators to the supply chain, meet to set out what the main issues are for the industry today and how they will affect it in the future. It is to be led by Energy Minister Charles Hendry, who launched the first Pilot summit in 2010.

He said: “The North Sea remains a considerable asset and oil and gas is one of our greatest industrial success stories.

“With the large number of new developments coming forward in the North Sea over the next five years, it is a sector which will contribute very strongly towards our economic recoveryandto thegrowthofour manufacturing and construction base.

“After more than 40 years, the UK continental shelf is maturing but there remains a great deal of oil and gas to be extracted. There is still hugeinterest in the industry for investment; the last licensing round attracted a record number of applications and proved extremely successful.

“By working with industry in partnership through Pilot we can capitalise on that potential to optimise production and extend the life of the basin well into the future.”

Through its work, Pilot has already introduced schemes such as the fallow field initiative, promote licences and helped set up the Industry Technology Facilitator.