Sharp fall in investment in the UK sector of the North Sea – Offshore.no

The British oil industry report full collapse in new investments in oil and gas in the UK North Sea.

The annual investment figures from trade association Oil & amp; Gas UK shows that the companies plan to invest 1 billion pounds (12.1 billion Norwegian kroner). In comparison, the level remained at around 8 billion pounds (97.3 billion Norwegian kroner) in recent years.

– We are fighting really for survival spring, says CFO Mike Tholen in Oil & amp; Gas UK.

The production in the UK has fallen from 4.6 million barrels a day in 1999 to 1.6 million barrels per day last year.

The oil and gas industry asks now that the UK government cuts in taxes “to minimize capacity cuts during the downturn.”

in January decided the British authorities to provide emergency aid of just over 3 billion to the British oil industry, which is struggling with the low oil prices.