Economic Report 2005 Index

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Summary The UK offshore oil and gas industry makes a vital contribution the UK economy, providing energy for the nation, investment and employment The upstream oil and gas sector is a major employer both within the UK and for UK nationals overseas Over the last 35 years, the industry has (in 2004 money)... The Offshore oil & gas industry continues to make a vital contribution to total UK security of energy supply Oil and Gas Prices have risen substantially in the last year but remain volatile The UKCS must remain globally competitive to attract new investment Even after 40 years the UK has substantial remaining oil and gas reserves Activity is increasing on the UKCS Good stewardship will help the basin deliver its full potential Oil and gas will remain the dominant energy sources for the UK economy for the foreseeable future The increasing use of gas as a primary fuel has improved the UK’s environmental performance Oil and gas from the UKCS can continue to make a contribution for decades to come

Economic Report 2005 Index

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