The Press and Journal (Inverness, Highlands, and Islands)
Reaction: Politicians welcome news of ‘hugely significant’ find west of Shetland
News of the “welcome shot in the arm” for the north and north-east was applauded by the region’s politicians.
Aberdeen South MP Callum McCaig – the SNP’s energy spokesman – said it was “a huge boost for the oil and gas industry which has had the difficult task of staying optimistic during challenging times”.
But he said Westminster needed to ensure a “fit-for-purpose fiscal regime” was put in place to get the most out of it.
“This announcement is fantastic and should act as clear evidence that now is the time for the UK Government to provide incentives for further exploration of the North Sea using the reserved powers of the Treasury to make that possible,” he said. “Investing in research, development, and exploration is what will safeguard the future of our vital oil and gas industry, and that requires real and significant fiscal support right now.”
Alexander Burnett, Scottish Conservative energy spokesman, hailed the “hugely significant" find.
“With analysts predicting first oil in 2019 with the potential to sustain jobs beyond 2050, this could provide a welcome shot in the arm for the sector after what has been a very difficult time.”
Northern Isles MP Alistair Carmichael added: “Given its location I hope that there would be a significant opportunity for this to bring business to Sullom Voe.
“Shetland’s economy continues to derive benefit from the oil and gas industry. This discovery shows that there are opportunities for years to come."