UK oil and gas industry further invests in oil production

The UK oil and gas industry continues in a practical and effective manner to respond to calls for additional investment in global oil production and refining capacity.
The UK Offshore Operators Association (UKOOA) reports that UK oil and gas producers are playing their part and investing hard in the mature North Sea to maximize recovery of the country’s reserves, estimated to be up to 28 bn barrels. It adds however that he industry’s efforts to stem the rate of UK production decline would be derailed by further tax hits, poor regulation and escalating costs.
Alexanders