![]() |
![]() |
![]() |
![]() |
![]() |
![]() |
![]() |
![]() |
![]() |
![]() |
![]() by Daniel J. Graeber London (UPI) Feb 8, 2016
A move by French energy company Total to start gas production from the North Sea is welcome news for an industry under pressure, Oil & Gas U.K. said Monday. Total announced the start of gas production from the Laggane-Tormore field in the waters west of the Shetland Islands. Deirdre Michie, chief executive of the industry group, said the field already attracted rich investments and employed "thousands of people" at a time when the North Sea is on the decline. "The confirmation of first gas production from the Laggan-Tormore field is very welcome news at a challenging time for the U.K. oil and gas industry as a whole," she said in a statement. Total said the field should produce 90,000 barrels of oil equivalent per day at full capacity, a level the company said will help increase British production levels at the same time as ensuring European energy security. "Laggan-Tormore is a key component of our production growth in 2016 and beyond," Arnaud Breuillac, the company's president of exploration and production, said in a statement. British energy company BP said it was cutting hundreds of positions from its payroll in the North Sea as the sector declines under pressure from lower crude oil prices and field maturation. British Prime Minister David Cameron in January pledged financial support to help maximize economic recovery in the North Sea. Scottish Energy Minister Fergus Ewing said his government was doing its part to revitalize the North Sea, noting there are opportunities remaining if the right strategies are put in place. "With 22 billion barrels of oil and gas remaining, the sector can still have a strong future," he said in a statement.
Related Links All About Oil and Gas News at OilGasDaily.com
|
|
The content herein, unless otherwise known to be public domain, are Copyright 1995-2024 - Space Media Network. All websites are published in Australia and are solely subject to Australian law and governed by Fair Use principals for news reporting and research purposes. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA news reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. All articles labeled "by Staff Writers" include reports supplied to Space Media Network by industry news wires, PR agencies, corporate press officers and the like. Such articles are individually curated and edited by Space Media Network staff on the basis of the report's information value to our industry and professional readership. Advertising does not imply endorsement, agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. General Data Protection Regulation (GDPR) Statement Our advertisers use various cookies and the like to deliver the best ad banner available at one time. All network advertising suppliers have GDPR policies (Legitimate Interest) that conform with EU regulations for data collection. By using our websites you consent to cookie based advertising. If you do not agree with this then you must stop using the websites from May 25, 2018. Privacy Statement. Additional information can be found here at About Us. |